And echoing the concerns of many farmers in our region, the National Corn Growers Association has recommended quick passage of fast-track to aid farmers already struggling due to low prices for corn and other commodities. Passage of fast track will build on the foundation of important trade-expanding reforms Congress has delivered this year. It will also put America in a commanding position to preserve her role in the 21 st Century as the world's undisputed economic leader. Another concern is the impact the global economic turmoil could have on the security of our financial markets, where Americans keep their savings and investments. The fortunes of consumers and investors are tied directly to those of our financial services sector.
Current law leaves many trusted U.S. banks at the mercy of foreign borrowers.
If those borrowers default on their obligations and cause U.S. banks to fail, American consumers will be placed in jeopardy, too. Passage of fast track and financial services reform will further enhance our security and help us build on that success. By reaffirming our nation's commitment to these time-tested principles now, we'll ensure that our economy is ready to endure any rough sailing that may lie ahead.