At the SkyBridge Alternatives conference in Las Vegas, former House Speaker John Boehner advised the Wall Streeters in attendance about how to improve their industry’s public image: Take a page from the plastics industry.
Remember “Plastics Make It Possible“? Boehner said the plastics PR campaign did a lot to blunt political attacks on the industry.
“Over the course of a few years, it convinced the American people that plastics were really good,” said Boehner. “And the whole issue went away.”
Boehner thinks Wall Street should take a similar approach, bypassing Washington and taking a “Banking Is Good” message directly to the voters. He suggested bankers focus on the importance of credit for investment and job creation, and argue that bank regulations are crimping the expansion of credit.
“Not many people can save enough money to start a business on their own,” Boehner said. “If you don’t have banks that are lending money and helping to multiply the money supply, you’re not going to grow the economy. When you look at what Washington has done to the banks over the last eight years, it’s a wonder they’re making any loans.”
So there you have it, Wall Street. There’s a great future in plastics. Think about it. Will you think about it?