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The federation is writing to Scottish and UK government ministers to urge them to take continued action to rebuild industry capacity.
Since online trust is easy to break but difficult to rebuild, industry needs to work together with us on this issue.
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Were Britain's leaders misguided, blinded by the desire to preserve its great-power status and to create a welfare state when they should have been rebuilding industry and improving infrastructure, as others in Europe were doing?
Unlike the 2003 annual meeting of the Investment Company Institute, which focused heavily on rebuilding industry assets following the bear market, comments at the 2004 get-together have focused on scandal, scandal and more scandal.
This had not only recovered a great deal of valuable stores and equipment, it had also generated a useful repair and rebuilding industry in Japan.
"That money could be going to rebuild this industry in our country.
The message was clear - "we don't need western companies, we can rebuild our industry ourselves".
"America's banks received extraordinary assistance from American taxpayers to rebuild their industry," Mr. Obama said.
The country lacks the money to rebuild the industry, which accounts for almost all of its foreign earnings.
The incoming Obama administration can then decide whether to invest billions more to truly rebuild the industry.
It began to rebuild its industry in the mid-1950's with the help of American technology which it adapted to its own needs.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com