SparkLight Communications client, Robert H. Dugger, is testifying today at noon in front of the National Commission on Fiscal Responsibility and Reform. His message, “Investors Need Confidence the U.S. Will Solve Its Budget Problems.”
Former Hedge Fund Executive Robert H. Dugger Tells Fiscal Reform Commission Investors Need Confidence U.S. Will Solve Budget Problems
Washington, DC – June 30, 2010. In his statement to the National Commission on Fiscal Responsibility and Reform, former hedge fund partner, Robert H. Dugger, explains why fiscal commission inaction and partisanship will weaken stock markets. “If this commission’s actions do not serve to unify citizens, it will deepen divisions that are splitting our nation into warring factions and diminish investor hopes that the U.S. has the political will to get its budget back on track. This commission must be a model of bipartisanship. If you are not, you will confirm the market’s worst fears that Congress is crippled and unable to act in advance to prevent a crisis, and a crisis is therefore inevitable,” Dugger says in his testimony.
In his testimony, Dugger makes specific recommendations to alleviate investor fears. These include:
1. Spending, tax and regulatory principles that make moral and economic sense to families and business people and assure that scarce resources will be allocated to high-return economic activities, especially education and workforce development.
2. Actions that unify citizens and stop the worsening trend toward government service cutoffs and civil disruption.
3. Recommendations for year-by-year revenue and spending targets that over the next 10 to 15 years will bring the U.S. budget into sustainable balance, and a framework which guarantees that this time, the revenue and spending targets will be met.
Mr. Dugger is managing partner of Hanover Investment Group, a market advisory firm which specializes in helping asset managers navigate significant changes in fiscal conditions. He is also vice chairman of the Governing Board of INETeconomics.org and co-founder of the Partnership for America’s Economic Success. Prior to Hanover, Mr. Dugger was a partner in Tudor Investment Corporation for fifteen years and responsible for its global policy analysis. Before Tudor, he was Policy Director for the American Bankers Association, where his work focused on facilitating development of the Resolution Trust Corporation and solving the U.S. Savings & Loan problem.
SPECIAL NOTE TO REPORTERS: Mr. Dugger is available to comment on this testimony and can be reached on his cell at 202-285-9988. He will also be available for in person interviews directly following his testimony.
Press Contact:Mimi Carter
Filed under: Politics | Tagged: American Bankers Association, Economy, Finance, Hanover Investment Group, National Commission on Fiscal Responsibility and Reform, Partnership for America's Economic Success, Resolution Trust Corporation, Tudor Investment Corporation |