Jon S. Corzine: “Well, the Senator from Connecticut raises a good point because I think when business decides it wants to outsource 14…”

“Well, the Senator from Connecticut raises a good point because I think when business decides it wants to outsource 14 time zones away or 12 time zones away, there are enormous synergies in business that are lost--the ability for people to work in similar space, to get the economies of the consolidation of ideas, working with people. It doesn't work nearly as well. As a matter of fact, a lot of businesses are consolidating so they can make a lot of their operations much more sympathetic with each other. These are business principles a lot of folks follow. I don't think it is as obvious as is commented in the economic report of the President, but I guarantee sometimes the short-term benefits that somebody might see on a quarterly report, because they have lowered their loss, are grossly offset by long-term costs because they lose the technological innovation of having people work together. They lose the economies of scale, and the potential long-term costs, aside from the social costs the Senators from Connecticut, Minnesota, and New Jersey have been talking about, are huge.”