In looking at the current state of affairs, Woodward quoted Senator Barry Goldwater, who in his 1960 book The Conscience of a Conservative lamented that the federal government was then "the largest lender, debtor, owner, and manager" in the United States. Nearly 50 years later, Woodward joked only half in jest, "you might well think that the federal government is the only lender, debtor, owner, and manager," but he cautioned against making too broad comparisons between the current recession and the Great Depression, recalling that during the 1930s, the government itself "hired 60% of the unemployed" through government programs like the Works Progress Administration.
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To learn how succession planning can help increase your practice value, download LPL's white paper, "Protect & Unlock Your Value through Succession Planning".
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