By Trugman
Last week, Elizabeth Warren made it clear she wants to reign in the banks and Wall Street, and break up Big Tech.
What dumb ideas.
Perhaps the lawyer-turned-overpaid-professor-turned-senator does not understand that America leads the world in banking, finance and technology, too.
And that these fields provide well-paying jobs from companies that offer great benefits.
For instance, on Wall Street, JPMorgan employs over 256,000 people. Citibank employs 204,000 and Bank of America, 205,000. Each of these three behemoths has high minimum wages and great health care and numerous other benefits, like educational assistance.
Why change a formula that’s working well? Banks are lending to consumers and businesses, and are robust again.
Microsoft, Amazon, Google and Apple are growing by leaps and bounds and leading the world in cutting-edge technologies. And Amazon alone has 647,000 employees.
Sure, there may need to be some privacy rules, which many technology companies say they embrace, but the goal need not be to break them up — that should only be the last resort.
Who would want to weaken America’s strong global leadership in technology? It would undoubtedly lead to mass layoffs and definitely destroy future investment and wreck the economy.
Being president is about lots of things, but the economy and employment has to be Job No. 1.
The better our economy, the better our quality of life — and the more we can afford to do for the less fortunate.
A president should support America’s strongest companies and nurture an environment that fosters new business growth and employment and wage gains
