CPA VICE CHAIRMAN & FORMER CHAIRMAN OF AMERICAN STRATEGIC INSURANCE GROUP
Marc Fasteau is the founder and has served as chairman of the the American Strategic Insurance Group, a property & casualty insurer with approximately $1.1 billion in premium operating in 26 states. The holding company for the Group, Arx Holding Corp, and its shareholders, have entered into a definitive agreement, expected to close in April 2015, to sell a majority interest in Arx to Progressive Corporation (PGR:NYSE).
Marc is a partner and investor in Sereno Properties, LLC, a developer and manager of small, high design luxury hotels. Fulcrum owns and operates Le Sereno hotel in St Barths and is building a new hotel on Lake Como, Italy in the town of Torno.
Marc was an investment banker in New York for 14 years, and served as a Managing Director and partner at Dillon Read & Co.
From 1979-81, Marc served as Staff Director and Counsel to the Rockefeller Foundation funded Study Commission on US Policy Toward South Africa. The Commission produced “South Africa:Time Running Out”, a book length report with policy recommendations for the federal government, US corporations and US non-profit.
From 1963-66, he served on the professional staffs of the US House of Representatives Banking & Currency Committee (now the Committee on Financial Services), US Senate Majority Leader Mike Mansfield and the Joint Economic Committee.
Marc is a graduate of Harvard College (1963) and Harvard Law School (magna cum laude 1969) where he was an editor of the Law Review.
He is married to Anne Gerard Fredericks, an artist, art historian and former Wall Street professional specializing in the Japanese and other non-US equity markets.
It’s the second month in a row now that the U.S. Senate Special Committee on Aging has taken up the question of our woeful generics supply chain. This time, however, Ranking Member Kirsten Gillibrand (D-NY), started the hearing off by touching on a key topic in pharmaceuticals: the cost equation can no longer override the quality equation.
To reduce the deficit in a durable way, the United States must do more than tariff goods. It must tariff the money.
The development of GTAP-USL economic model marks another step forward in our efforts to make the GTAP more realistic and a better predictor of the real-world effects of trade policies or trade shocks. It’s critical to build models that provide a better understanding of how policies impact people, families, racial groups, gender, cities and regions. There is still more work to be done.
Section 301 is a powerful tool for addressing foreign policies that distort global markets and disadvantage American producers. When foreign governments explicitly pursue overproduction and then export the resulting surplus into the United States, the effect is to displace domestic output and deter new investment in American manufacturing.
