Newsmax cites a recent coalition letter signed by CEI opposing the Volcker Rule.
That legislative ban would seem to apply here, because as noted by a new coalition letter that the Competitive Enterprise Institute (CEI) signed, “the Fed’s proposal will directly compete with the private sector’s established Real-Time Payments system and additional emerging technologies.”
Fred Smith is the animating spirit at the Competitive Enterprise Institute. Fred conceived of the idea for an organization that would, in his words, “find a more positive answer to the challenge Joseph Schumpeter laid down in his essay, “Can Capitalism Survive?” He founded the organization and served as president for nearly three decades.
He died at the age of 83 at home in Maryland where he is survived by his beloved wife Fran. Fred was a friend and mentor, an advocate and ally, and an inspiration. His bright light lives on in our work.
Fred Lee Smith
December 26, 1940 – November 23, 2024