Mergers generate substantial synergies.
From Roger Altman
Russia's oil fields are mature and require capital and Western technology even to keep production flat.
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.
Too many companies are just being big for the sheer sake of it. Too many CEOs thinking bigger is better.
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.
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.
I think Obamacare, for all its controversy, is actually working.
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.
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