Friday, February 6, 2009

Address the Real Problem ...

... please Mr. Obama!!
As many of us know India has suffered greatly from the negative effects of just the kind of over regulation that the new US President proposes on executive pay etc. The amounts the companies in question will save are not going to be worth the cost of talent going elsewhere which will also impact the ability of these companies to generate a profit on taxpayers' money.
The US Democrats should address the real issue and recognise how their own policies in the Clinton years led to excess liquidity which coupled with another policy to promote home ownership and the simultaneous abdication of responsibilities by banking and markets regulators, rating agencies etc. led to the credit crisis - the consequences of which we're now living through. Also among other things to the Madoff scam where investors were basically only looking for yield.
How about some real economic leadership that prevents this from ever happening again?
I was concerned that Obama seems a bit of an economic lightweight but thought it would be a bit longer before he disappointed us - I hope I'm wrong!
Good weekend,

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