Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: A single best idea on a really inventful day. The
Speaker 2: President was active early on in the morning. I think
Speaker 2: we had three, if not four, substantial tweets from the President.
Speaker 2: Some we covered, some we didn't, maybe not germane to
Speaker 2: what we're doing. But it was just a really really
Speaker 2: eventful morning and then wrapped around the economic data and
Speaker 2: the banks as well. After the debris fell from the
Speaker 2: major banks, including the huge successive City Group, we talked
Speaker 2: to Gerard Cassidy, iconic at RBC Capital Markets that we
Speaker 2: talked about his success with City Group, the path forward
Speaker 2: for Jane Fraser here with Gerroid Cassidy on the old
Speaker 2: days of eighteen thousand banks.
Speaker 1: Back then, we had eighteen thousand banks and thrifts when
Speaker 1: you and I were young men, and today we're down
Speaker 1: the forty three hundred. So the consolidation that was brought
Speaker 1: on by National Interstate Banking under the Clayton administration when
Speaker 1: they signed that law has really led to the consolidation.
Speaker 1: As a result, what has happened is that the banks
Speaker 1: have become more efficient, which has led to much better profitability,
Speaker 1: while at the same time their capital levels are meaningfully
Speaker 1: higher than they were twenty thirty years ago, and of
Speaker 1: course since the financial crisis.
Speaker 2: Joed Cassidy of RBC Capital Markets shout out to all
Speaker 2: in Boston. He of Tucker, Anthony and rlday of a
Speaker 2: few years ago we looked at Europe today. A wonderful
Speaker 2: conversation with one of our correspondents out of Denmark, out
Speaker 2: of Copenhagen on all that's going on in Greenland. We'll
Speaker 2: do more of that, just to get the learning curve
Speaker 2: up on this oddity of the distance between Greenland over
Speaker 2: to Iceland and then over to the shores of Norway
Speaker 2: and down to the United Kingdom in Scotland. It's just
Speaker 2: I'm learning about to seat you in every day, trying
Speaker 2: to get smarter on it. Speaking of smart and Natalie
Speaker 2: Tucci is with the Johns Hopkins University out of Bologna
Speaker 2: in Rome. She's absolutely definitive in the question what in
Speaker 2: God's name is Europe doing here?
Speaker 3: Professor Tacci, Well, this is a really odd kind of
Speaker 3: you know, situation here because Europeans, starting with the Danes
Speaker 3: themselves and the Greenlanders, are more than happy to talk substance.
Speaker 4: So does the United States want a greater security presence
Speaker 4: in Greenland, no problem. Does the United States want greater
Speaker 4: access to Greenland's natural resources, no problem. But if it
Speaker 4: is not substance, if it is simply a question of
Speaker 4: territorial expansion, then that's kind of a conversation killer.
Speaker 2: I can't say enough about her article in Foreign Affairs magazine,
Speaker 2: just really really timely here on the lack of cohesion
Speaker 2: and ambition of Europe and defining auge to respond to
Speaker 2: the United States and President Trump. Natalie Tacci of the
Speaker 2: Johns Hopkins University on podcasts. While we're out on Ample
Speaker 2: Music and Spotify, I don't know if we're out on
Speaker 2: Netflix podcast. I'll have to discover that. In the next
Speaker 2: couple of days. We are on YouTube podcast's single best Idea.