Hillary Clinton

i want to start with a comment or two about the economi __PUNCT__

as we saw over night __PUNCT__ thi is a global_econom econom_crisi __PUNCT__

it ha push the fed for an emerg meet and by phone with a rate cut thi morn in an effort to try to take whatev action can be taken on the monetari side to begin to try to stabil thi situat which is obvious deterior __PUNCT__

__PUNCT__ i think it imper that the follow step be taken __PUNCT__

the presid should have alreadi and should do so veri quickli __PUNCT__ conven the presid work_group on financi_market __PUNCT__

that someth that he can ask the secretari of the treasuri to do __PUNCT__

we don't have ani inform that he ha done so as of last night __PUNCT__ but i would urg him to do that __PUNCT__

thi ha to be coordin across market with the regul here and obvious with regul and central_bank around the world __PUNCT__

__PUNCT__ secondli __PUNCT__ the meet that i understand is go to take place todai __PUNCT__ with respect to a stimulu_packag __PUNCT__ must produc an agreement that can be quickli pass __PUNCT__

i have been advoc for some time a packag of action __PUNCT__

the on area that i still hear noth about from the white_hous of ani signific is what will be done to deal with the mortgag_crisi __PUNCT__

those of you who have cover me know that i have spoken about thi consist becaus i believ it is a critic part of what we must do __PUNCT__

we need a combin of spend __PUNCT__ regulatori action with respect to the hous_market __PUNCT__ and rebat through the tax_system __PUNCT__

__PUNCT__ secondli __PUNCT__ it would be incred short __PUNCT__ sight not to includ those peopl who do not current pai incom_tax __PUNCT__

we have fifti to seventi million_peopl who ar senior on fix incom __PUNCT__ who ar work_peopl who don't make enough monei to actual pai incom_tax __PUNCT__ that thei have to get some help __PUNCT__

everyth i heard from the white_hous would leav these peopl out __PUNCT__

__PUNCT__ i think that is a mistak fiscal and it is certainli a tremend oversight with respect to what these famili and individu ar go through __PUNCT__

i would reiter my call for a moratorium on foreclosur for nineti dai and a rate freez for five year to try to stabil thi hous_market __PUNCT__

there mai be other wai to do it such as open up the bankruptci code __PUNCT__ which i would certainli be open to __PUNCT__ but we got to address thi big piec of busi __PUNCT__

__PUNCT__ final __PUNCT__ i think that as we look at what is happen in the economi __PUNCT__ it veri import to recogn how the polici of the last seven year have contribut to the situat we find ourselv in __PUNCT__

there is no doubt my mind that the american_consum ha larg sustain the global_economi __PUNCT__

what happen in a lot of these market around the world is that the fear that the american_consum will stop spend ha move like a contagion through the global_market becaus __PUNCT__ clearli __PUNCT__ we have not onli spent at extraordinari level in the feder_govern __PUNCT__ with all of the spend that we haven't paid for and that __PUNCT__ i think __PUNCT__ is come home to roost __PUNCT__ as well __PUNCT__

__PUNCT__ the american_consum __PUNCT__ becaus of he increas_cost of everyth that make up a middl_class class_life or just make it dai by dai __PUNCT__ health_care __PUNCT__ educ __PUNCT__ energi_cost __PUNCT__ have all gone up becaus of the failur of thi administr __PUNCT__

we need action across the board and it imper that the presid and hi econom team instil confid in the compet of our govern to take on what is clearli now a global_crisi that could veri well thrust us into a deep __PUNCT__ long recess __PUNCT__

we got to do everyth we can to avoid that __PUNCT__