(October 1, 2008) California Chamber of Commerce President and CEO Allan Zaremberg today urged the California Congressional delegation to work with the administration to reach and pass quickly a bipartisan plan to stabilize the U.S. financial markets.

“Swift action is critical,” said Zaremberg. “California businesses are paralyzed by the uncertainty in the economy. California's tax receipts and ability to fund education and public safety are at risk over the constricting credit markets and the lack of confidence in the stock markets.”

The CalChamber is the largest broad-based business advocate to government in California. CalChamber members provide one-quarter of the private sector jobs in California and include firms of all sizes and companies from every industry within the state.

“The financial well-being of all our members and all Californians hinges on a resolution to the financial crisis. We urge you to act immediately. Once the current crisis is settled, all interested parties can work together on a comprehensive, longer-term reform of the financial market structure and related regulations,” Zaremberg concluded.

Action Needed

The CalChamber is urging members of the business community to contact their Congressional representatives and ask them to support a bipartisan plan to bring stability to the U.S. financial markets.

For a sample letter visit, www.calchambervotes.com.