Could someone please remind the banks who drives innovation in America?

Posted by SPaul on April 18th, 2007

Someone at the Financial Services Forum apparently failed to remember that our economy is interconnected.  According to a Bloomberg report today,

“Chief executives of the biggest Wall Street firms Tuesday urged President Bush to make greater access to overseas markets for U.S. financial services a higher priority than it is now.  Such a shift could come at the expense of manufacturers and farmers, groups that also are lobbying the White House on trade.”

This shouldn’t be an ”either-or” proposition.  America can and should succeed in manufacturing, financial services and agriculture.   

Manufacturing is, and will continue to be, an integral part of the “new economy.” With manufacturing, the new economy will thrive. Without manufacturing, much of this new economy wouldn’t even exist.  We hope that our trade negotiators -and our financial institutions - keep that in mind.

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