John Mack, the Chairman and CEO of Stanley Morgan, appeared on Charlie Rose on PBS (Public Broadcast System) last night.
He had high praise for the importance President Obama is giving the grave economic crisis facing Americans. He also said that President Obama recognized that the global economy is so integrated that the present crisis must be dealt with by a concerted effort on the part of the world financial community, that no individual nation can solve the crisis.
Chairman Mack called for the creation of a new global financial regulatory system that will monitor and set international standards to be followed by all national central banks.
He assured viewers that the present economic downturn would pass but could not say how long it would last.
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