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Langone Sounds Off on Debt & Bank Regulation

Monday, 8 Aug 2011 | 7:00 AM ET

"The American people need to know that nothing is going to change without some pain for them," says Kenneth Langone, Invemed Associates chairman/CEO. "We're going to pay our debt but who is going to get screwed in the long run? The poor guy that's living on fixed income because inflation will take it's toll," says Langone.