She said she wanted to see a more localised economy with more UK manufacturing and support for farmers, adding that the financial industry needed to be "reined in" to avoid another crash.
Rather than retooling their curricula or starting new programs to meet the financial industry's needs, Wadhwa says, departments should give physicists the skills they need to create their own jobs and jobs for others; that is, they should offer more entrepreneurship training.
As Congress now considers reforming the financial industry, it needs to take into account how abysmally our regulators performed when they coordinated their efforts and how insular their decision-making has been on matters that affect the entire economy.
But the UK government has argued that the Scottish financial services industry needs the rest of the UK: it's where 90% of its customers are located.
"One of Britain's great strengths is the ability to offer and aggregate all of the services the global financial services industry needs," he said.
She said the financial services industry needs leadership from New York officials to fight off efforts in Congress "to blame Wall Street for everybody's problems".
The financial services industry needs to fully agree on, and be prepared to practice, coordinated response and recovery strategies to prevent systemic breakdowns.
