DENVER — Do no harm.
That's the advice CUNA President and CEO Dan Mica had for the two major-party presidential candidates when asked about how they should handle the problems facing the economy.
Mica said during an appearance on Fox Business Channel that both Democratic nominee Barack Obama and likely Republican nominee John McCain should reassure people that the government will be there as a backup but won't meddle unnecessarily in the workings of the economy.
“The candidates need to address Middle America, which hasn't made up its mind, rather than Wall Street, which has chosen a candidate. But they need to do it in a way that doesn't add to people's jitters.”
Mica noted that deposits in credit unions are fully insured and said credit unions are part of the solution to the current economic problems because they are making loans at a time when other financial institutions are cutting back.
He made his comments from a studio in Invesco Field, where Obama is scheduled to deliver his acceptance speech tonight. During the interview, Sheryl Crow was warming up in the background which prompted one of the anchors to suggest Mica join her on stage. He replied “I feel like breaking out singing here.”
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