US: Apparel group adds to calls for bank rescue deal
The American Apparel & Footwear Association (AAFA) has added its voice to a broad coalition of business groups calling on Congress to approve the Emergency Economic Stabilization Act, or bank rescue plan.
"Today's financial crisis isn't limited to niche markets of Wall Street," said Kevin Burke, president and CEO, AAFA.
"The credit crunch is affecting everyone from apparel and footwear businesses that rely on lines of credit in daily operation to families trying to buy their first home."
In a letter sent to Congress, AAFA noted the vital role credit plays in the continuation of business operations for much of the economy and in the daily lives of American families.
The US House of Representatives is due to discuss the scheme today (2 October), with a vote expected on Friday. The $700bn bail-out bill successfully passed through the Senate on Wednesday.
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