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Former AIG CEO Hank Greenberg on Obama’s jobs plan and the tenuous relationship between the President and the business community.
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For more on the president's speech in the state of our economy the former CEO of AIG Hank Greenberg one of the foremost business executives in this country.
Had personal more good to see you your reaction to the president's proposal last night -- proposals.
They -- senator all the market.
Spoke.
Not very attractive proposal.
This and this is unusual in that we're going to have to installments from the president on this on this issue.
It is strange that two and a half years into.
That we have seen.
Unemployment above 9% for 25 of the past 28 months.
That He should be making this appeal and this proposal now.
But at the same time I wonder where is the business leadership in this country.
Because -- bourses have been noticeably absent as well.
Is that about to change.
I hope so.
-- This administration is not it not been attracted to the business community are very few business people are in the administration.
And so you know if you not want that you do your own thing.
And in this case doing your own thing has amounted to balance sheets -- you well know who went and -- of two trillion dollars in cash.
There there would be available for investment.
On that would be available for our creating jobs.
And yet we see the business roundtable.
Basically.
Representing 130 the top.
Corporations in the country.
Basically along with the US chamber of commerce with a broader membership of business.
Folks.
Basically you know we're it's too uncertain we're too frightened were too scared this isn't the business leadership I'm used to.
What is going on.
-- a member of the business Turkmenistan.
And because they'd like to bring back this two trillion dollars who would create jobs and -- would be invested in the United States.
But they're not certain what's gonna happen.
You gotta give business certainty.
Business needs certainty in order to invest.
-- going to tax -- more.
All the signs that's that's we'd like to do this administration believes that business should be taxed more not less.
Business if you if you cut taxes for corporate corporate America.
In the economy would would really benefit and take off.
But that's been talked about and talk about but -- Iraq.
The president did not even suggest.
That He would extend his open hand to business or for that matter to Republicans.
He is speaking a bit like the Lone Ranger.
When talking about the jobs active that He began.
Introducing last night.
This is a strange.
Strange time in that we're not seeing cooperative relationships among business.
Among unions among academia.
And our political leaders.
What are what is your reaction.
But I agree with that the -- There seems to be no cohesion about anything.
He comes out makes these speeches time and time again.
-- what does He say.
What's He done to help the economy get better.
What He mentioned for example corporate.
Corporate jets private jets are saying that they're a bit of what amounts to 300 million dollars a year and accelerated depreciation on those jets would house somehow be an important.
Set off a to some of the rather ambitious programs that it you have -- -- -- that that the drop in the bucket.
-- -- stock in the wrong the wrong issues you wanna get the economy going many thing to do.
Cut corporate taxes number one.
Bring back this offshore funds get that going right.
We need infrastructure in this country -- -- Third World country when it comes to infrastructure.
But even if you get the funds.
-- to invest in infrastructure.
The regulations -- so onerous that takes you years to get any approval get rid of some of these regulations.
-- right now.
Business leaders are not held -- high -- By the American public they're much higher esteem than congress.
Are much higher seen in the president.
But there is a lack of trust in our fundamental historic and traditional leadership -- and those institutions.
Who ever.
Succeeds in the presidential election of 2012.
Is gonna have to bring that together right now we are looking at a number of candidates and Republican Party.
Who is your choice amongst those to tear filled that role who do you think has the greatest greatest.
The likelihood of succeed.
-- you're talking about leadership wish you what we need.
I've known governor Perry for a long time.
And I think he's a leader.
-- may not agree with everything that He stands for but we need a leader and I think He -- -- -- -- he's raised.
In are in the Dickens where business leaderships in what specifically the CEOs.
Who are a little bit that a high Fullerton in in his judgment.
Working their way through Washington.
And at the expense of the American people.
He's a little critical from time to time some -- He is and you can you can handle.
But because I thought you might be able to bear up.
So what is the number one issue that you think has to be resolved if we're gonna start creating jobs in this country.
We have been if I may say over the course of the past decade but we've -- relatively lower taxes.
We have had extraordinary spending.
And when we page when people talk about stimulus thank I don't -- or whether talk about we got a one point three trillion dollar deficit this year I don't know that we can afford a lot more stimulus and that.
Look forward we go here we look this country is founded on the basis of most central government more states' rights okay.
Job not created by governed by the by the central government.
By Washington -- by the private sector you -- have the private sector being the lead dog.
The private sector is gonna be encouraged we need a leader that's gonna give business back the opportunities to do it would be I have not lost faith in the United States.
We will get beyond this we'll get a leader and we'll get the country go.
-- right and Greenberg purchase.
