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CFO Responds To Bailout Plan

September 25th, 2008 by flanews

Floridas Chief Financial Officer says that while President Bushs speech may have scared some Floridians, his sense of urgency in last nights address was warranted. A Democrat, Sink agrees with President Bush that Washington needs to move quickly with its bailout plan to open credit lines. CFO Alex Sink says the Wall Street woes of the last two weeks are making it harder for Floridians to buy houses and take out small business loans. Sink said if nothing is done, Floridas economy could tank.

This plan has been billed as a Wall Street bailout. Its really so much more than that, it really is a Main Street bailout, and that means making it available for small businesses and for individuals to have access to credit just to keep our economy going, said Sink.

Sink is one of the managers of the states 140 billion dollar pension fund. The fund lost over 5 billion dollars in value as the problems on Wall Street escalated.

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