They have a place and can be used effectively to solve actual problems. Old line businesses with too many units and complicated business arrangements can actua

They have a place and can be used effectively to solve actual problems. Old line businesses with too many units and complicated business arrangements can actually benefit from being torn apart and rebuilt effectively. The problem is, when the Fed gives out exceptionally cheap interest, it makes it incredibly easy to apply this strategy even when the underlying business would not benefit from it. We simply left the tap on _way_ too long.