Franklin pitches cities bailout plan

Atlanta Mayor Shirley Franklin says a bailout plan for cities that she pitched -- along with mayors of Philadelphia and Phoenix -- was not just a plea for those cities.

Franklin says it's also a request for help for local governments across the country struggling in the strained economy.

Franklin, Philadelphia's Michael Nutter and Phil Gordon of Phoenix lobbied Treasury Secretary Henry Paulson in a joint letter sent Friday. They asked for a share of the proposed $700 billion bailout.

In it, they made the case that dwindling revenues have led to layoffs and cuts in services, and dried-up sources of credit have made it hard for cities to get bonds for infrastructure projects that could provide jobs.

Franklin said in an interview this week at City Hall that lending to cities could help the country climb out of economic crisis -- or contribute to its continuing decline.

(AP)