While the financial markets tumbled and the frozen credit markets propelled our economy into a “potentially dangerous new phase,” Elizabeth Dole was in Washington introducing superfluous legislation to celebrate Union Station. Not the most appropriate timing considering millions of North Carolinians are unsure what tomorrow will hold in terms of job security, health care and affording basic necessities.
While Financial Markets Were In Turmoil, Dole Was In Washington Introducing Legislation To Celebrate Union Station. On September 17, Dole introduced S. Res. 664, which is “a resolution celebrating the centennial of Union Station in Washington, D.C.” Furthermore, the resolution would “encourage the people of the United States to continue to visit and learn about Union Station and its storied history.” [S. Res. 664, 9/17/08]
Meanwhile, The Financial Crisis Deepened. The New York Times reported that on September 17 “the financial crisis entered a potentially dangerous new phase…when many credit markets stopped working normally as investors around the world frantically moved their money into the safest investments.” [New York Times, 9/18/08]
One Day Earlier, AIG Bailed Out With $85 Billion In Taxpayer’s Money. On September 16, the Federal Reserve agreed to an $85 billion bailout of insurance giant American Insurance Group (AIG). [New York Times, 9/17/08]
---Disclosure: I am Kay Hagan's Online Communications Director---