Jacob Lew OMB: Businesses will Leave US to Escape Financial Regulations

Jacob Lew, a deputy secretary of state replacing Obama’s current Office of Management and Budget (OMB) director, says if the rest of the world does not pass financial regulation and reform similar to the Obama administration’s, American companies will flee the U.S. to locations where their businesses will not be hindered by government. Lew says it would be “a natural tendency” to escape the “tough” regulations. The statement in the video comes at about 58 seconds-in. Background on Lew here.

Jacob Lew on Obama Financial Regulations (video)