Wednesday, Nov. 18, 2009 | 2 a.m.
Richard Bryan has served Nevada as a deputy district attorney, public defender, legislator, attorney general, governor and senator.
He’s now a lawyer-lobbyist for Lionel Sawyer & Collins.
What advice would you give to elected officials?
The most important advice is to stay in touch. People are frightened. None of us here in Nevada have experienced such a challenging economy. Next year is going to be every bit as challenging as 2009.
Elected officials need to be very candid with the public, say, ‘Look, there is no quick fix here. There is no magic elixir that will immediately transform us from a difficult recession to an overnight recovery.’
Some of this is going to take time. Some of the things the Congress has done make some sense, like extending unemployment benefits. If there’s a silver lining to this, hopefully some lessons may be learned.
What are those lessons?
Among individuals, there’s some responsibility. They got themselves into a situation that was irresponsible, unrealistic and not sustainable.
Nov. 5 was the 10th anniversary of the repeal of the Glass-Steagall Act. I voted against repeal. To allow financial institutions with extraordinarily sophisticated financial products to escape regulatory oversight was a mistake. We need to create a more effective regulatory structure.
What about closer to home, what lessons can Nevada learn?
I still think that the fact we are so dependent on tourism as an industry, strong as the industry is here, continues to make the point that we’ve got to diversify and broaden our base. That’s not new, but it comes back: Our economy really is more vulnerable to an economic cycle because we’re so dependent on tourism.
The revenue structure has got to be revised. It’s got to be broadened with a broad-based business tax. It may not be politically doable, but it’s got to be done.
Are you optimistic for the future of your grandchildren in Nevada?
I am optimistic. There’s an entrepreneurial side that runs through the state’s history, from mining to easy divorces to casino gaming. Now it could be energy.
What do you think of Sen. Harry Reid’s reelection chances?
He has a very difficult race, but never count him out. My prediction is that he wins in a hard-fought contest.
Do you miss politics?
What I find troubling is the escalated and highly polarized rhetoric. I wouldn’t handle that well.
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