It might be a rough halloween for the kiddies in a lot of neighborhoods. Those poor kids may have to range far and wide to get a lot of candy with the meltdown in the housing industry. As this cartoon points out:
Candy may be sparse
Treasury Secretary Henry Paulson told international leaders on Sunday that isolationism and protectionism could worsen the spreading financial crisis. With a new trading week dawning, U.S. lawmakers urged quick action by the Bush administration on measures to make direct purchases of bank stock to help unlock lending.
Democrats also are lining up behind House Speaker Nancy Pelosi’s plan to bring lawmakers back to Capitol Hill after the Nov. 4 election to work on a second economic relief plan. The idea is “give the middle-class and the average citizen the same kind of relief that we try to give the financial sector,” said Democratic Rep. Barney Frank of Massachusetts, chairman of the House Financial Services Committee.
Top Democrats are suggesting a $150 billion measure that would extend jobless benefits, provide more money for food stamps and finance and some construction projects such as rebuilding bridges and roads. Rep. Roy Blunt of Missouri, the second-ranking House Republican, said he would help on a plan “that makes sense” but is not laden with huge public works projects or bailouts for states that overspent on social programs.
And how has your weekend gone?
