Tag Archives: founding fathers

Government spending out of control, Hank Greenberg

9 May

Key takeaways:

Dodd-Frank regulation 

“Dodd-Frank was a new law. It was passed before we even had knowledge of what really happened. The investigations were going on and they passed Dodd-Frank.  Now you got to fund Dodd-Frank. Whenever you do something in a hurry, in the middle of a crisis, you do it wrong.”

Government debt out of control

Interest rates are virtually zero… We have too much debt, you know the issues. We have too much debt, we don’t have a budget agreement in our Congress. Our founding fathers never intended to have a Federal government as large as we currently have. We never had the growth that we did have in past when we had huge Federal government and Federal budget.  We’ve gone from a modest debt in our Federal system to a huge debt in our Federal system. Virtually 25% of our GDP now is spent by the government. That’s wrong.”

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