Government spending out of control, Hank Greenberg
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.”
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.