Before his death on February 6, George P. Shultz, a former US Secretary of the Treasury and Secretary of State, co-authored a final commentary warning of the dangers posed by the vast increase in US government spending in recent years, including during the COVID-19 crisis.
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On Monday, the SEC announced that John Coates has been appointed Acting Director of Corp Fin. He has been the John F. Cogan Professor of Law and Economics at Harvard University, where he also served as Vice Dean for Finance and Strategic Initiatives. If that name sounds familiar even if you haven’t been one of his students it may be because he sometimes pops up in Matt Levine’s column in
Bloomberg as the author of “The Problem of Twelve,” which he describes as the “likelihood that in the near future roughly twelve individuals will have practical power over the majority of U.S. public companies.” Beyond that, he has been a very active member of the SEC’s Investor Advisory Committee, and Committee recommendations he has authored may give us some insight on his perspective on issues.
FOR IMMEDIATE RELEASE Washington D.C., Feb. 1, 2021
The Securities and Exchange Commission announced today that John Coates will serve as Acting Director of the agency’s Division of Corporation Finance.
Mr. Coates has been the John F. Cogan Professor of Law and Economics at Harvard University, where he also served as Vice Dean for Finance and Strategic Initiatives, and taught courses on corporate law and governance, securities regulation, and finance to lawyers, business students, and executives. He has written extensively on mergers and acquisitions, corporate governance, and financial regulation.
“I am honored to join the SEC,” said Mr. Coates. “I have long respected all that the agency and the Division do as a first line of defense for investors. During my four years on the Investor Advisory Committee, I observed firsthand the staff’s enthusiastic commitment to helping build the world’s most socially productive capital markets. I look for
January 25, 2021
2:11 PM ET
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Before the coronavirus pandemic, President Donald Trump beat some experts’ economic expectations and pursued policies that kicked the American economy into gear.
During Trump’s four-year tenure as president, the American economy saw levels of growth and employment that beat the expectations of some economic experts in academia and government. Trump’s tax cuts, deregulation, and other economic policies helped business confidence soar, and led to larger disposable incomes for America’s poor and middle class before the coronavirus pandemic.
Based on then-candidate Trump’s policy proposals during the 2016 campaign, economic optimism quickly set in before Trump was inaugurated. The Organization for Economic Co-operation and Development’s (OECD) Business Confidence Index quickly saw business confidence in the United States shoot up to match Obama-era highs. The National Federation of Independent Business (NFIB) Small Business Optimism