U.S. Chamber's Donohue Welcomes Steps Taken to Shore Up Financial Markets

Calls for 'Thorough, Nonpartisan' Effort to Address Obvious Regulatory Failures

WASHINGTON, D.C.—U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement on the financial crisis:

"Preventing a systemic collapse of the national and international financial system must be the top priority for regulators and lawmakers. We commend Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke, and SEC Chairman Chris Cox for their hands-on leadership and for the commonsense and courageous steps they are taking to address current market difficulties.

"Once the immediate crisis has passed, we must engage in a thorough, thoughtful, and nonpartisan effort to correct obvious failures in our financial regulatory system.

"In doing so, we must not lose sight of the critical role that properly regulated, robust capital markets play in creating economic growth, jobs, and opportunities. We need capital markets that are open, fair, transparent, honest, and competitive.

"We cannot forget that our financial markets supply the capital needs of millions of small businesses and underpin the pensions and retirement savings of tens of millions of American families. Stable and strong markets are as critical to Main Street as they are to Wall Street."

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

www.uschamber.com

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