Happy 250th July 4th to all our friends and clients. In addition to the celebrations, we hope everyone will reflect on the journey our young country is traveling with enthusiasm and optimism, despite the “lost decade” that the current Washington administration has inflicted on the entire world. Our role as stewards of free and transparent financial markets is particularly relevant to this journey, and Ken Bentsen‘s wisdom from many years on Wall Street and in public service is wonderfully captured in his recent commentary on this topic.
“Stewarding a National Asset
America’s capital markets are among our nation’s most important economic institutions. Their scale and success are the result of generations of innovation, resilient institutions, investor confidence, market integrity, and sound regulation.
More than a source of financing, capital markets help businesses grow, communities develop, governments invest in public works, and families build long-term financial security. Their depth and efficiency help explain why the United States remains one of the world’s most productive, innovative, and resilient economies.
The continued success of our markets should never be taken for granted. Maintaining America’s leadership requires policies that support capital formation, encourage investment, promote financial literacy, foster innovation, and sustain the trust and confidence that underpin well-functioning markets.
As we look toward the next 250 years, our responsibility is clear: to steward this enduring national asset so future generations can continue to benefit from the opportunities it creates.”