Wall Street Reform and Consumer Protection Act
Cry Wolf Quotes
Our concern is that ... it will create a one-size-fits-all federal system that will marginalize both directors and shareholders.
Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s "invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates.
This one-size-fits-all approach would distract directors from managing a company, lessen shareholders voice in proposals and director elections, and continue to disenfranchise retail shareholders.
Congress, the administration and the states must recognize that our weak economy simply cannot sustain all the new taxes, regulations and mandates now under consideration. It is a surefire recipe for a double-dip recession or worse.
