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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: A single best idea on a really inventful day. The

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Speaker 2: President was active early on in the morning. I think

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Speaker 2: we had three, if not four, substantial tweets from the President.

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Speaker 2: Some we covered, some we didn't, maybe not germane to

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Speaker 2: what we're doing. But it was just a really really

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Speaker 2: eventful morning and then wrapped around the economic data and

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Speaker 2: the banks as well. After the debris fell from the

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Speaker 2: major banks, including the huge successive City Group, we talked

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Speaker 2: to Gerard Cassidy, iconic at RBC Capital Markets that we

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Speaker 2: talked about his success with City Group, the path forward

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Speaker 2: for Jane Fraser here with Gerroid Cassidy on the old

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Speaker 2: days of eighteen thousand banks.

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Speaker 1: Back then, we had eighteen thousand banks and thrifts when

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Speaker 1: you and I were young men, and today we're down

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Speaker 1: the forty three hundred. So the consolidation that was brought

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Speaker 1: on by National Interstate Banking under the Clayton administration when

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Speaker 1: they signed that law has really led to the consolidation.

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Speaker 1: As a result, what has happened is that the banks

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Speaker 1: have become more efficient, which has led to much better profitability,

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Speaker 1: while at the same time their capital levels are meaningfully

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Speaker 1: higher than they were twenty thirty years ago, and of

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Speaker 1: course since the financial crisis.

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Speaker 2: Joed Cassidy of RBC Capital Markets shout out to all

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Speaker 2: in Boston. He of Tucker, Anthony and rlday of a

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Speaker 2: few years ago we looked at Europe today. A wonderful

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Speaker 2: conversation with one of our correspondents out of Denmark, out

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Speaker 2: of Copenhagen on all that's going on in Greenland. We'll

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Speaker 2: do more of that, just to get the learning curve

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Speaker 2: up on this oddity of the distance between Greenland over

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Speaker 2: to Iceland and then over to the shores of Norway

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Speaker 2: and down to the United Kingdom in Scotland. It's just

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Speaker 2: I'm learning about to seat you in every day, trying

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Speaker 2: to get smarter on it. Speaking of smart and Natalie

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Speaker 2: Tucci is with the Johns Hopkins University out of Bologna

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Speaker 2: in Rome. She's absolutely definitive in the question what in

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Speaker 2: God's name is Europe doing here?

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Speaker 3: Professor Tacci, Well, this is a really odd kind of

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Speaker 3: you know, situation here because Europeans, starting with the Danes

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Speaker 3: themselves and the Greenlanders, are more than happy to talk substance.

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Speaker 4: So does the United States want a greater security presence

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Speaker 4: in Greenland, no problem. Does the United States want greater

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Speaker 4: access to Greenland's natural resources, no problem. But if it

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Speaker 4: is not substance, if it is simply a question of

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Speaker 4: territorial expansion, then that's kind of a conversation killer.

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Speaker 2: I can't say enough about her article in Foreign Affairs magazine,

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Speaker 2: just really really timely here on the lack of cohesion

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Speaker 2: and ambition of Europe and defining auge to respond to

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Speaker 2: the United States and President Trump. Natalie Tacci of the

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Speaker 2: Johns Hopkins University on podcasts. While we're out on Ample

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Speaker 2: Music and Spotify, I don't know if we're out on

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Speaker 2: Netflix podcast. I'll have to discover that. In the next

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Speaker 2: couple of days. We are on YouTube podcast's single best Idea.