US Must Keep Its Reputation for Risk
David Smick, Johnson Smick International | April 17, 2009
A push for Wall Street banks to be turned into heavily regulated, "talent-deficient" public utilities would see them take fewer investment risks, leading to lower economic growth and higher long-term unemployment. ++ A no-risk system fails to support start-up innovators and small businesses. ++ A push for simplified capital markets ignores the fact that today's system solved a decade of stagflation and created nearly 20 million net jobs. ++ The US needs to retain its position as the world's hothouse of innovative risk or face losing it to a competitor.
