Tuesday 6/28 Event: Restoring The Balance: Financial Regulation and The Real Economy
Alliance for American Manufacturing (AAM) Executive Director Scott Paul will be speaking at an Americans for Financial Reform event on financial regulation this Tuesday, June 28th. He will be discussing the fact that Wall Street isn’t helping American manufacturing, why that’s the case, and what it could do to help.
More info:
Restoring The Balance: Financial Regulation and The Real Economy
Sponsored by: Americans for Financial Reform, AFL-CIO, Alliance for a Just Society, Demos, Main Street Alliance, Public Citizen, U.S. PIRG
Tuesday, June 28th from 9:30 AM – 12:30 PM
To RSVP, please contact Erin Kilroy at erin@ourfinancialsecurity.org, or (202)466-1885
Join us for a discussion of the outsized influence of Wall Street on our economy and what can be done about it. Speakers will include Thomas Hoenig, President of the Kansas City Federal Reserve; Scott Paul, Alliance for American Manufacturing; Rob Atkinson, Information Technology and Innovation Foundation; Margaret Blair of Vanderbilt University, Damon Silvers of the AFL-CIO, and others. This will be the first of a series of policy conferences to be presented by Americans for Financial Reform.
Since 1980, finance as a share of the economy has grown by over 60 percent. Even after the crisis, financial sector profits are still a quarter of all corporate profits, a level that would have been unprecedented before the 1990s. Beyond the financial sector, economic growth has been increasingly fueled by leverage-driven asset bubbles created by financial sector innovations.
Some of the questions we’ll discuss include:
- What are the factors driving the increasing prominence of finance?
- What influence has it had on economic growth and stability, the distribution of income, and innovation and investment in the non-financial “real economy”?
- Has the growth in financial sector influence distorted the political process?
- What can new regulations under the Dodd-Frank Act do to change the balance between finance and other areas of the economy?
- What further steps are needed?
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