In the 1890s and 1810s corporate consolidation inspired an … - Henry Kaufman

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In the 1890s and 1810s corporate consolidation inspired an enormous public outcry against the "trusts" (...big business). Newspapers overflowed with editorial deriding... "robber barons," and for the first time in American history the federal government stepped in to regulate... First came the ... designed to limit discriminatory railroad rates, and then the Sherman Anti-Trust Act of 1890—Congresses' first attempt to constrain monopolistic practices. In practice, both acts proved to be weak against the predominant power of big business. For decades, the courts in effect made regulatory policy in how they interpreted... these two...

Henry Kaufman

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About Henry Kaufman

(born October 20, 1927) is President of Henry Kaufman & Company, Inc. and is known, by some critics of his economic analyses and prognostications, as "Dr. Doom." Kaufman worked in commercial banking and served as an economist at the . After the Federal Reserve, he spent 26 years with , where he was Managing Director, Member of the Executive Committee, and in charge of the Firm’s four research departments. He was also a Vice Chairman of the parent company, Salomon Inc. He also served as a director of Lehman Brothers Holdings Inc. and as chairman of the Lehman board's finance and risk committee.

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Additional quotes by Henry Kaufman

[R]icher nations have larger stock and bond markets than poorer ones, and the assets of financial intermediaries are much larger in relation to GDP.

The current plethora of instant interpretations tends to emphasize the near-term without adequate regard for longer-term objectives. The problem is compounded by the compressed time scales within which business and government function.

[A]n economy cannot grow and thrive without a strong commercial and investment banking infrastructure. Without the ability to create debt and equity instruments, the world's economies would not have advanced beyond their most rudimentary forms.

In the 1890s and 1810s corporate consolidation inspired an enormous public outcry against the "trusts" (...big business). Newspapers overflowed with … - Henry Kaufman

About Henry Kaufman

Additional quotes by Henry Kaufman