Hillary Clinton says US firms need to think long term

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Published: July 24, 2015 3:36:10 PM

American firms need to think long term, rather than in terms of quarterly achievements to achieve their respective goals to make the national economy bullish, feels 2016 Democratic Party presidential hopeful Hillary Clinton.

American firms need to think long term, rather than in terms of quarterly achievements to achieve their respective goals to make the national economy bullish, feels 2016 Democratic Party presidential hopeful Hillary Clinton.

According to the New York Times, Clinton will urge US firms on Friday to break free from the “tyranny of today’s earnings report” in order to drive higher income growth for everyday Americans.

She will be delivering a speech at New York University’s Stern School of Business, and the likely focus, according to the NYT report, will be on corporate accountability and the perils of “short-termism” that have led to large corporate stock buybacks and less spending on new plants and equipment.

Clinton, according to the NYT, has begun outlining her economic agenda in the face of pressure imposed on her by Vermont Senator Bernie Sanders and former Maryland Governor Martin O’Malley to take a more populist approach to Wall Street.

Both of them reportedly support the reinstatement of the Glass-Steagall Act that separates commercial and investment lending.

Clinton is also expected to call for a re-examination of the tax code’s treatment of executive compensation, and call for further reforms, her campaign said.

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