Trent Lott: “I want to make two or three points that I am really worried about. Are we fiddling around here while Rome is beginning…”

“I want to make two or three points that I am really worried about. Are we fiddling around here while Rome is beginning to burn? Today, and during the last couple of days, I have been talking with people who are watching the stock market. Who knows what causes the stock market to move around? But I have also been talking to financial service managers from companies that watch very carefully what is happening in the country and in the economy. I have been talking to representatives of manufacturers. They are telling me that the economy is perhaps in more trouble than any of us want to acknowledge. I ask the question: OK, what do we do about it? Obviously, one thing is for the Federal Reserve System to do more.”