Governor Bredesen says he is trying to work with TSEA, but he will not share his plans and holds press conferences without informing or inviting the Association. The Governor's threats in an attempt to gain power have made the Board of Directors for TSEA even more resolved to protect state employee's rights. TSEA will hold firm to the notion that layoffs are not a correct course of action and that many other options are available to the Governor and the General Assembly to effectively balance the budget.
"We have balanced the state's budget through difficult times in our past and under numerous administrations and never before has a governor requested such power to accomplish the task. It is unnecessary control that will have repercussions for generations to come," said Tucker.
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It's "absolutely ridiculous" that banks, which were expected to reduce their holding of such volatile mortgage securities, bought them before the government program was running and may now profit, said Michael Schlachter, managing director of Wilshire Associates, the Santa Monica, California- based investment-consulting firm. "Some of them created this mess, and they are making a killing undoing it."