So, Treasury Secretary Timothy F. Geithner and the Obama Administration have now made a proposal for financial regulatory reform. Clearly, such a proposal was very much needed. But the proposal that the U.S. Treasury has now presented is sorely off target. It is neither comprehensive enough, nor does it address the core problems that everyone on Wall Street knows exist. It merely tinkers on the margins.
Until the fundamental problems are addressed, all we have been given is a fig leaf. This is dangerous as it has the potential of lulling us into a false sense of complacency. We have been here before with smaller crisis (such as with the Long Term Capital fiasco) and nothing was learned. Let’s not repeat our mistakes.
So here is the question: when Kia Motors or Hyundai were recently looking to open new assembly plants, why is it that no one tried to persuade them to build a plant in NH? With New Hampshire’s great lifestyle, low taxes, our high tech base and our business environment, our state should be an excellent destination for all kinds of business operations. More often than not, foreign businesses are looking to establish operations where the enabling business environment is considerably better than in their home countries. This usually means the U.S.A. It should also mean New Hampshire.
The American Society of Civil Engineers recently gave America’s infrastructure a grade of D and estimated that the nation needed to spend more than US$1.6trn in the next five years. Our roads, ports, dams, water systems, highways, power plants, airports, schools, etc, are all in desperate need of new investment. Our infrastructure has been badly [...]
In today’s economic environment, helping small businesses create new jobs needs to be our leading priority. Yes, we must take care of the displaced, but we must do it through job creation. The Democrats in Concord can’t seem to understand this. They keep adding more and more weight onto the state’s business community, expecting them to continue to fly. They have just done it again this week by adding more social safety net legislation at the expense of job creation. While they will now crow about “helping people” their policies will have the exact opposite impact.