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EYEWITNESS LOCAL NEWS
WEST VIRGINIA BUDGETfrom Eyewitness News Online Governor Manchin Addresses The State's Economic Status
Reported by:
Videographer: Jim Reed Web Producer: Rudi Raynes Updated: October 1, 2008 11:10pm
Governor Manchin states, "There's an old proverb that says it's better to be careful a hundred times than be killed once."
And he says people in the West Virginia financial investment community are being more careful than ever. Manchin and several other state finance leaders addressed the public today about the current state of West Virginia's economy. How did West Virginia measure up? Manchin says, "We're better prepared to handle it as well as any other state if not better than most other states." The Governor and the others tried to instill confidence in West Virginians concerned about banks, the housing market, and retirement accounts. Manchin also says he's angry bad behavior is being rewarded. "Probably anybody sitting out there has never been rewarded for a bad job, has never got a bonus for losing money. We can't understand that. We can't comprehend this. So it's very difficult for us to sit here and say listen that's the way things happen. Well, I'm here to tell you if that's the way it happens somebody's guilty and somebody needs to go to jail." says the Governor. So what are West Virginians saying about the Senate vote on the bailout? Charleston resident Linda Elliott says, "I'm certainly against bailing out Wall Street." However, fellow Charlestonian, Tom Horn disagrees. "It's not just some people on Wall Street. That's not it. It's everyone. So, I want the bailout bill to pass." Conflicting opinions on a very divisive issue. Only time will tell how much investors will be hurt in this powerful financial storm. The Executive Director of West Virginia Housing says West Virginia families are still in a good position to buy homes. And Harry Mendel who oversees retirement plans says they've done a lot of pre-planning to weather the storm.
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