Iowa Congressman Jim Nussle says legislators can take some action to help shore up the shaky financial markets, but he says the companies need to take action to become more accountable.He says deeds are the only thing that can change the confidence in the financial markets, not words. Nussle says the President tried to make an impact with words, as did Fed Chairman Alan Greenspan.He says the president gave a good speech, but it didn’t have an impact, and Greenspan’s words didn’t have the effect they’ve had in the past. On another issue, Nussle believes Congress will approve the new Homeland Security Cabinet position by this fall.He says there’s support for the move, and the only reason it is going slowly is the president didn’t request the change until six months after September 11th. Nussle says it takes time to get the legislation through the process and he expects it to get done by the end of August.
