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Economic Rescue Plan Called MIA for Women, from Women’s eNews

Posted on Women’s eNews on March 23:

Last week, the Federal Reserve extended a $30 billion line of credit to save investment bank Bear Stearns from bankruptcy and allow JP Morgan Chase, another financial giant, to scoop it up at a rock-bottom price.

Women’s financial advocates say fair enough. But they are using last Sunday’s startling $2 per share purchase, backed by the Fed, to spotlight what they see as the moral hazard of not doing more to keep middle- and low-income people–among whom women predominate–financially stable as well.

“When the economy gets a cold, women get pneumonia,” said Michele Leber, chair of the Washington-based National Committee on Pay Equity, which is pushing legislation to make it easier to sue for wage discrimination.

Read more at: Economic Rescue Plan Called MIA for Women


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