We have seen over the past year what happens when Corporate America is allowed to operate with little or no regulation. A prime example is the lack of regulation of the financial institutions. And, we have also witnessed the results of ineffective or weak regulation of the drug industry. The new “Era of Accountability” brought on with the Obama Administration has set the stage for sweeping reforms in the ways that federal regulators do business.
From the financial services and defense contracting industries to the manufacturers of products including drugs, cars, toys, and others – no company can be immune to the need for good and effective regulation. Of course, there will be strong opposition from the corporate lobbyists and from some members of Congress. But the American people want change and that will drive this train in my opinion. Thus, I believe that President Obama will be successful in this area of concern.
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