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Emergency Economic Stabilization Act of 2008

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Date:
Location: Washington, DC


EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 -- (House of Representatives - October 03, 2008)

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Mr. COOPER. Madam Speaker, I would like to submit for the Record a letter of support for the economic rescue plan currently before Congress submitted by the Business Roundtable.

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BUSINESS ROUNDTABLE ,

Washington, DC, October 1, 2008.
To: Members of Congress
Re: Economic Rescue Plan

The failure to pass emergency legislation to rescue the U.S. financial system will put our entire economy at risk. The resulting turmoil in equity markets has already wiped out hundreds of billions of dollars in household wealth and the retirement savings of the American people. But the impact of this crisis extends well beyond the financial industry.

As business leaders representing companies that generate more than $5 trillion of U.S. GDP--more than one-third of the U.S. economy--we are already seeing the damage spread to every sector of our economy. Credit is being shut off to both small businesses trying to meet payroll and families struggling to pay college tuition bills. Retail sales are declining each week as consumer confidence collapses. More business failures, job losses and significantly higher unemployment loom on the horizon.

Further delay will only increase these adverse impacts on America's economy. We urge Congress to act immediately to pass bipartisan legislation to stabilize the U.S. financial system and contain the damage to our broader economy while that opportunity still exists. The American people have always risen to whatever economic challenges they have faced, and with swift congressional action we can meet this crisis and restore our economy to its historic path of strong growth and rising prosperity.

Sincerely,
Enrique O. Santacana, President and Chief Executive Officer, ABB Inc.; Miles D. White, Chairman and CEO, Abbott; William D. Green, Chairman & CEO, Accenture; Evan G. Greenberg, Chairman and Chief Executive Officer, ACE Group; Gary C. Butler, President and CEO, ADP; Ronald A. Williams, Chairman and CEO, Aetna Inc.; Klaus Kleinfeld, President and CEO, Alcoa Inc.; John E. McGlade, Chairman, President, and CEO, Air Products and Chemicals, Inc.; James L. Wainscott, Chairman, President & CEO, AK Steel Corporation; Thomas J. Wilson, Chairman, President & CEO, Allstate Insurance Company; Lee Styslinger, III, Chairman & CEO, Altec, Inc.; Michael G. Morris, Chairman, President and Chief Executive Officer, American Electric Power Company, Inc.
Kenneth I. Chenault, Chairman and CEO, American Express Company; James M. Cracchiolo, Chairman and Chief Executive Officer, Ameriprise Financial; James T. Hackett, Chairman, President & CEO, Anadarko Petroleum Corporation; Paul W. Jones, Chairman and CEO, A.O. Smith Corporation; G. Steven Farris, President, Chief Executive Officer and Chief Operating Officer, Apache Corporation; Steven F. Leer, Chairman & CEO, Arch Coal, Inc.; Patricia A. Woertz, Chairman, CEO & President, Archer Daniels Midland Company; Charles G. ``Chip'' McClure, Chairman, CEO and President, ArvinMeritor, Inc.; Dean A. Scarborough, President & CEO, Avery Dennison; Ronald L. Nelson, Chairman & CEO, Avis Budget Group; Riley P. Bechtel, Chairman & CEO, Bechtel Group, Inc.; Stephen A. Schwarzman, Chairman and CEO, The Blackstone Group.
W. James McNerney, Jr., Chairman of the Board, President and Chief Executive Officer, The Boeing Company; Robert A. Malone, Chairman & President, BP America Inc.; Michael T. Dan, Chairman, President & CEO, The Brink's Company; John A. Swainson, CEO, CA, Inc.; Harold D. Boyanovsky, President and CEO, Case New Holland Inc.; James W. Owens, Chairman and CEO, Caterpillar, Inc.; Kathryn V. Marinello, Chairman and Chief Executive Officer, Ceridian Corporation; Dave O'Reilly, Chairman and CEO, Chevron Corporation; H. Edward Hanway, Chairman and Chief Executive Officer, CIGNA corporation; Muhtar Kent, President and Chief Operating Officer, The Coca-Cola Company; Mayo A. Shattuck, III, Chairman, President & CEO, Constellation Energy; David F. Dougherty, President and CEO, Convergys Corporation.
Douglas W. Stotlar, President & CEO, Con-way Inc.; Wendell P. Weeks, Chairman and Chief Executive Officer, Corning Incorporated; Eric C. Fast, President & Chief Executive Officer, Crane Co.; Michael J. Ward, Chairman, President & CEO, CSX Corporation; Tim Solso, Chairman & CEO, Cummins Inc.; Robert W. Lane, Chairman and CEO, Deere & Company; James H. Quigley, Chief Executive Officer, Deloitte Touche Tohmatsu; Robert S. Miller, Executive Chairman, Delphi Corporation; J.T. Battenberg, III, Chairman, CEO--Retired, Delphi Corporation; Andrew N Liveris, Chairman & CEO, The Dow Chemical Company; Chad Holiday, Chairman and CEO, DuPont; J. Brian Ferguson, Chairman and Chief Executive Officer, Eastman Chemical Company.
Antonio M. Perez, Chairman and CEO, Eastman Kodak Company; Alexander M. Cutler, Chairman and CEO, Eaton Corporation; John C. Lechleiter, President and CEO, Eli Lilly and Company; James S. Turley, Chairman and Chief Executive Officer, Ernst & Young LLP; William G. Walter, President and Chief Executive Officer, FMC Corporation; Lewis Hay, III, Chairman and Chief Executive Officer, FPL Group, Inc.; Jeffrey R. Immelt, Chairman & CEO, GE; G.R. Wagoner, Jr., Chairman and Chief Executive Officer, General Motors Corporation; Marshall O. Larsen, Chairman, President & CEO, Goodrich Corporation; Dinesh C. Paliwal, Chairman & CEO, Harman International Industries, Inc.; David M. Cote, Chairman and Chief Executive Officer, Honeywell International Inc.; Brendan McDonagh, CEO, HSBC North America Holdings Inc.
Mike McCallister, President and Chief Executive Officer, Humana Inc.; Samuel J Palmisano, Chairman, President & CEO, IBM Corporation; John V. Faraci, Chairman and Chief Executive Officer, International Paper; Steven R. Loranger, Chairman, President and CEO, ITT Corporation; Steve Roell, Chairman and CEO, Johnson Controls, Inc.; Timothy P. Flynn, Chairman & CEO, KPMG; Edmund F. Kelly, Chairman, President and CEO, Liberty Mutual Group; Stuart H. Reese, Chairman, President and CEO, MassMutual Financial Group; Harold McGraw III, Chairman, President and CEO, The McGraw-Hill Companies; John H. Hammergren, Chairman and CEO, McKesson Corporation; David B. Snow, Jr., Chairman & CEO, Medco Health Solutions, Inc.; Gregory Q. Brown, President & Co-CEO, Motorola, Inc.
John A. Luke, Jr., Chairman & CEO, MWV Corporation; Thomas C. Nelson, Chairman, President & CEO, National Gypsum Company; Jerry Jurgensen, Chief Executive Officer, Nationwide Mutual Insurance Company; Dan Ustian, Chairman, President & CEO, Navistar; Ted Mathas, President & CEO, New York Life Insurance; C.W. Moorman, Chairman, President and CEO, Norfolk Southern Corporation; Daniel R DiMicco, Chairman and CEO, NUCOR CORPORATION; Steve Odland, Chairman & CEO, Office Depot, Inc.; Michael H. Thaman, Chairman and CEO, Owens Corning; Richard L. Wambold, Chairman and CEO, Pactiv Corporation; Jeffrey B. Kindler, Chairman and CEO, Pfizer Inc.; Steve Angel, Chairman and CEO, Praxair, Inc.
Dennis M. Nally, Chairman and Senior Partner, PricewaterhouseCoopers; Larry Zimpleman, President and Chief Executive Officer, Principal Financial Group; A.G. Lafley, Chairman of the Board and Chief Executive Officer, The Procter & Gamble Company; Ralph Izzo, Chairman of the Board, President & Chief Executive Officer, Public Service Enterprise Group Inc.; Henry R. Silverman, Chairman, Realogy Corporation; Keith D. Nosbusch, Chairman & CEO, Rockwell Automation; Brenda C. Barnes, Chairman and CEO, Sara Lee Corporation; James H. Goodnight, CEO and Founder, SAS; Fred Hassan, Chairman and Chief Executive Officer, Schering-Plough Corporation; J. Patrick Spainhour, CEO, ServiceMaster Global Holdings; George Nolen, CEO, Siemens Corporation; Edward B. Rust Jr., Chairman and CEO, State Farm Insurance.
Lewis B. Campbell, Chairman, President and Chief Executive Officer, Textron Inc.; Marijn E. Dekkers, President and CEO, Thermo Fisher Scientific; Tom Lynch, Chief Executive Officer, Tyco Electronics; Edward D. Breen, Chairman and CEO, Tyco International; Jim Young, Chairman, Union Pacific; Louis R. Chenevert, President & Chief Executive Officer, United Technologies Corporation; Ivan Seidenberg, Chairman and CEO, Verizon; Dan Fulton, President and CEO, Weyerhaeuser Company; Jeff M. Fettig, Chairman and CEO, Whirlpool Corporation; Steven J. Malcolm, Chairman, President & CEO, The Williams Companies, Inc.; Anne M. Mulcahy, Chairman and Chief Executive Officer, Xerox Corporation; William D. Zollars, Chairman, President & CEO, YRC Worldwide.

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