None of this means America’s financial system is perfect. Over the decades, Americans have lived through periods that damaged confidence in banks and markets. America’s financial institutions have made significant changes and built back trust, but those of us who lead them have an obligation to keep earning it.
Perhaps the most distinctive advantage of the American model is not that it avoids failure, but its ability to adapt, reform, and continue creating opportunity. The same country that built the world’s deepest capital markets has repeatedly renewed them through innovation, competition and change. American companies of all sizes have confronted a number of shocks in recent years, yet they continue to adapt, innovate and grow.
That is why it is never a good idea to bet against the American entrepreneur. It is also a major reason why, like so many immigrants before and after me, I chose America, and why the world’s capital continues to choose America too.
Read the full article here
