Ballmer urges Congress to 'stabilise' financial crisis
Published: 01 Oct 2008 08:25 BST
Microsoft chief executive Steve Ballmer expressed hope on Tuesday that US Congress would take action to address a deepening financial crisis, which he warned could ripple across spending on all levels of the economy.
On Monday, the US House of Representatives rejected a $700bn (£392bn) bailout plan proposed by the White House.
"I trust that, before the end of the week, we have some resolution, at least in the US Congress, that will help to stabilise the situation. We need that; I hope we get that," Ballmer said at a news conference in Oslo, according to the Reuters news agency.
Read this
From Disney to 'dogfooding': Life as Microsoft's CIO
Can Microsoft's chief information officer, former Disney executive Tony Scott, work a little magic on the customer experience?
After the vote on the bailout plan fell through on Monday, Microsoft called for Congress to reconsider the legislation in order to "re-instill confidence and stability in the financial markets".
The financial crisis, Ballmer noted, extends beyond the borders of the US to European banks, and affects businesses and consumers generally.
"Financial issues are going to affect both business spending and consumer spending, and particularly... spending by the financial-services industry," Ballmer said.
Credit: Ballmer: Congress must 'stabilize' financial crisis from CNET News
Did you find this article useful?
3 out of 3 people found this useful
Digg
Slashdot
Del.ici.ous
Stumble
Reddit
