Mergers generate substantial synergies.
The 2008 economic crisis and Great Recession forced widespread restructuring throughout the U.S. economy - not unlike a company gritting its teeth through a lifesaving bankruptcy.
Reasonable mergers generate substantial synergies, so that provides for earnings and cash-flow growth even if it doesn't provide for revenue growth, and I think that's a big driver.
There are a lot of anachronisms in Washington, but the need to periodically raise the debt limit by Congressional vote is certainly one of them.
As we all know, the budget decisions which give rise to increased debt are what counts, and the debt is just a by-product of those budget decisions.
Safer cities generally mean stronger urban economies.
If a lending institution is faced with bids for a package of toxic assets that are less than the carrying value of those assets, the sale of those assets would trigger a further loss and reduce the underlying capital of the institution.
In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.
I think Obamacare, for all its controversy, is actually working.
Too many companies are just being big for the sheer sake of it. Too many CEOs thinking bigger is better.
China is beginning to act more like a world citizen. We need China to be more active on the world stage. For example, we should want China to be a bigger participant and a bigger shareholder in the IMF. We should want it to be an even more active participant in the G8 and G20.
When Xi Jinping came to power, there were a series of hints that market-based capitalism would be allowed to move forward under his leadership. At the first real threat, they've fallen over themselves to impose government control.
We live in an era where the global capital markets are the super power in the world, and when they move against you as they've moved against Russia, as we've all seen in the ruble, there's nothing that can stop that.
The Fed is the major U.S. firefighter. It's not the Treasury. It's not the Congress. We certainly saw that vividly in 2008.
I don't think there's a more battle-hardened veteran anywhere than Larry Summers.
The 2008 financial crisis and the Great Recession that followed have had devastating effects on the U.S. economy and millions of American lives. But the U.S. economy will emerge from its trauma stronger and widely restructured.
The United States is much further along because its financial crisis struck three years before Europe's, in 2008, causing headwinds that have pressured it ever since.
The long-standing wisdom that everyone wins in a single world market has been undermined. Global trade, capital flows, and immigration are declining.
The financial and economic crash of 2008, the worst in over 75 years, is a major geopolitical setback for the United States and Europe.
Russia's oil fields are mature and require capital and Western technology even to keep production flat.
