I cochaired a group looking at public-private partnerships... and we came to the unanimous, bipartisan conclusion that they have a role, and they are good, but they are no better than maybe--maybe--10 percent of our needs.
Capuano discusses the limited effectiveness of public-private partnerships for funding needs.
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I get that. Then why don't we have a bill just to stop New York State from doing this and leave the other 49 to do it? Leave Alabama alone.
I would ask, is the Fed interested in all, would you be interested in pursuing something--you oversee 7,000 entities, some of them large, some of them small, most of them pretty large.
I am particularly opposed to this bill because in New York State, we have a powerful securities fraud law, called the Martin Act.
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