Felix G. Rohatyn, the financier and former ambassador to France who helped save New York City from bankruptcy in the 1970s, offers this view on the importance of infrastructure investment and how the financial system can be repaired. The text is adapted from a speech he gave this week at the Economic Club of Chicago. He recently published a book called "Bold Endeavors: How Our Government Built America, and Why It Must Rebuild Now."

This is a time of grave concern about the global economy and our position in it. As Roosevelt did almost 80 years ago, we are searching for a strategy for reviving America and allowing us to lead. I believe that a central component of that strategy must be significant new investment in our public infrastructure.

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Posted by boyang at March 27, 2009 7:35 AM