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The Wisdom of Pete Peterson

Posted by Larry Doyle on June 16, 2009 9:33 PM |

Pete Peterson is the son of Greek immigrants and has lived the American dream. He has held senior positions in Washington, run a Wall Street investment bank, and launched a major private equity shop. Peterson has been wildly successful in all his ventures. That said, his work is not finished.

This 12-minute Bloomberg video is one you will want to watch, save, cherish, and share. Peterson addresses the potential massive pitfalls of our “total” deficit, including Social Security and Medicare. He specifically references insights provided to him from foreign leaders.

He provides the wisdom of a man who has global relationships in the worlds of finance and politics. He grasps the depth of the issues facing our country. He is committed to making a difference and elevating the dialogue and debate surrounding our financial future.

Peterson, a son of “the Greatest Generation,” is a great American.

Please share this clip with friends and colleagues. They will thank you.  ~ LD

  • TeakWoodKite

    LD, ran across this on the radio today.

    Congressional testimony of the Inspector General of the Federal Reserve, The first paragraph of the feds own web site. Bold don’t you think?

    Elizabeth A. Coleman was appointed Inspector General for the Board effective May 6, 2007. In this role, Ms. Coleman leads a staff responsible for promoting economy, efficiency,and effectiveness within Board programs and operations. The Office of Inspector General (OIG) is also responsible for preventing and detecting waste, fraud, and abuse at the Board, among other duties. The OIG achieves its legislative mandate through audits, evaluations, investigations, legislative reviews, and by keeping the Chairman of the Board and Congress fully informed.

    Her testimony

  • TWK…if this weren’t so serious, that clip would get an award for best lead in to a comedy.

    It comes close to the Abbott and Costello rendition of “who’s on first…”

    Seriously, how could Ben Bernanke allow her to go to the Hill and give that testimony. Now Obama wants to make the Fed the uber-regulator. Very scary stuff….

  • TeakWoodKite

    What is even more disturbing is she is a Bush Cronie hold over.

    I just finished watching the video you posted. Savings?
    I agree that savings implies a positive direction for the wealth of a nation.

    This man has many years of first hand experience. WOW.
    Just wish one tenth of the mans knowledge could give to the IG, like a Vulcan mind melt.

    With China’s current trajectory, do you see any relief in the national trade imbalance and national dept as the Fed pumps M1(?) into the system?

    You combine that with the recent highlight you did from the Fed Chair in Texas and I am forced to wonder if the Fed is so dysfunctional and corrupt that it will the proverbial straw on the back of the beast of burden.

  • Tony

    Larry,

    Thanks for highlighting the Pete Peterson interview. I guess in retrospect I should have studied the Chinese language in school instead of French.

    Tony

  • Perhaps you can go pick it up now. Probably get that done over the course of a few weekends, no??






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