As financial markets reel under suffering economies, former Visa CEO Robert Heller cuts through the panic to share what investors really need to know.
Many investors today find themselves adrift amidst aggressive speculation and high-risk trading. Reassuring those planning for the long term could be the key to stabilizing volatile markets - but how to do it? Heller puts his extensive experience in business, academics and policy - including three years with the Federal Reserve - to the task.
Robert Heller is the former CEO of Visa U.S.A and also served on The Federal Reserve's Board of Governors.
Robert Heller, former Visa CEO, discusses President Obama's stimulus plan and argues not much has changed since the Bush administration. He criticizes Timothy Geithner's continued involvement in the recovery, and expresses concern over the lack of "shovel-ready projects."
i get your points and agree with you. obviously, mr. heller was speaking as a banker....and in the context of men in his position, i felt he was less oblivious and better intentioned than most...probably because he is no longer at the head of a major bank.
Hmmm... let me get this straight...
1. we need to restore bank confidence (darn banks have such low self-esteem)
2. we haven't protected the corporations enough. although we gave them the status of person-hood, repealed interstate banking laws, repealed the separation of investment and commercial banks, it wasn't enough... dang.
3. the government and it's taxing ways is the problem. risk-taking corporations who privatize profits and socialize losses are what pump the life-blood of our economy.
4. more money for the epa, state department and (gasp) social programs are a waste because corporations really just need more security (an army say) for their overseas operations (natural resource extraction, i.e. oil, etc.).
5. long term investments make us wait too long. we need profits this quarter. ok, ,long-term investment in lobbying congress does show promise.
6. Banks run internal stress-tests all the time. They don't need the government to run similar tests.
7. The problem with regulation is that banks are not allowed to do what needs to be done--you know boost bonuses, leverage reserves, subsidize lobbyists--too much openness is a bad thing. darkness is the best (dis)infectant.
8. Don't question the rules --- that's the business of bank managers.
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