Russell Goldsmith, CEO of City National Bank, spoke with CNBC today, and said that California would pull its way out of its current crisis because it has the right mix of industries.
- 0:30 Financial reform is a mixed bag, the bill does not address Fannie and Freddie, which are a big deal
- 1:10 Consumer protection agency gets $0.5 billion from Federal Reserved unchecked, it is too powerful with little oversight
- 2:55 California’s problems are overblown, it is the 8th largest economy in the world, and it is the centre of key tech industries – California has government problems it needs to address though
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