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Cuomo Says Regulation Encourages Growth

NEW YORK CITY-In his keynote to UJA's Young Real Executives, the state attorney general said new taxes are a bad idea but effective regulation is smart.

By Cody Lyon | Updated on March 12, 2009

NEW YORK CITY-State attorney general Andrew Cuomo told a UJA- Federation of New York audience that the nation forgot a basic lesson: effective government regulation ‘helps’ the private sector and it actually encourages competition.

Cuomo was featured speaker this past Wednesday at the annual Young Real Estate Executives luncheon, or REX, at the Waldorf Astoria in Manhattan. REX offers opportunities for young real estate professionals to help those in need build relationships with colleagues, develop leadership skills and explore philanthropic issues beyond the city’s real estate community. This year’s honoree was Jonathon Yormak, principal at private equity firm Broadway Partners.

The attorney general told the mostly under-40 audience, “I’m trying to sort through the economic issues, the Wall Street issues” adding that problems first have to be exposed, then people have to believe you understand them and that justice was done with the problem.

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