steve pagliuca

" I thought provoking a -- that's unsure about I think so hard not so sure about us this email you had a routine and stand up comedy and -- sit on the chair and do the same thing I've never done stand -- but I think -- eleven -- would have -- quote what Barack Obama says -- and listen to this he values go ahead I get a kick out of -- stark realization that what we have here is Democrats gone wild starring Barack Obama -- Remain -- this is the party that he is supported so vigorous. Obama has been in office for five weeks that's one to anybody wants to introduce acquaint themselves with the facts I was the most conservative. Democrat -- I was most conservative on fiscal stuff legislator of the Massachusetts Evan had. Ever -- so you all the more reason that one would question why it's taking so long to come to terms it's reality I tell you I might want my wife -- to -- she kept adding an angelic smile comes or for browser face and she says he got to this in my house. He is the most naive little optimistic guy in the world. And storm might or might really about kind of filled with hope the other will rise to the case the other thing that makes it inexplicable you have the advantage every week of talking with Steve value of the that global private equity investor and a partner in the in the Celtics Celtics yet to hear his wisdom. And insight and still it doesn't seem to permit it attributes with me now but doesn't tell us how he apparently have a -- us in this -- thinks I'm a slow let -- celebrated in my next lesson Steve good morning. We are great Steve hey can we -- let's stop with the self before we get today you know the real important stuff. You had a couple of injuries. KG most notably. In -- you've made a couple of duel and interesting addition Jenna going to let us get bored at all state."

" Well yeah that should be some exciting sentences of between we've made one for sure Mikki Moore there's another -- that's being talked about out there that they -- to fruition so. We've had a -- of injuries scalp. Without a person's neck on the element and Kevin Garnett. Two largest that we had a great road trip we had a little slip up -- last game but river trip without you know three key players."

" Tell us about Stephon Marbury the most controversial obviously the acquisitions. Kind of well I'll say these in my where it's kind of an attitude like a punk that's what comes across to me. Not what you'd expect a little harsh Wheldon opened up what is certainly expect out of the Celtics the south at any moment -- are well I hope it's but I am curious you take on that that dynamic I'm sure you know its controversial in some quarters."

" Yeah I've actually have -- almost certainly do exports controversial you guys know sports politics or controversial one way or another. But you've got to do what what's what he thinks that's for the team. And in east and a great job of that in those the players very very well strengths weaknesses that it. So taking a look at his counsel it was a step on stories ingesting it -- it I think you've seen -- Latvia the upside the stuff of story is. That. The knicks got him with great -- he's very very good players twenty point eight rebounding game All-Star player. And he was expected to carry that franchise and as a Boston there's a lot of pressure in New York. And so when he came in it was a great team rapidly approaching players. And players like that get very frustrated. When when there's those security in the team's not winning. And in the -- the coaches and realistic on this stuff -- positive it was a very tough situation -- for four years and I have wherever he ends up. He's going to have a chance now."

" While his bottom -- foreign you know we have examples with the New England Patriots have Randy Moss Corey Dillon read it all right great example yeah fall into that category I think -- so you know taught my in point I'm sure -- open and this is this is the third. In that line of people talented talented guys but became immensely frustrated with different dynamics they come to a team like use he was will this could be it good stuff."

" We have -- we have a veteran you know cast of players and locker room so so is that situation if it does that should step."

" Steve -- had a chance a look at the proposed budget for the for the coming year."

" I have that's it's kind of eye popping with that you know trillions. Some oh deficit. It's it's very --"

" I pocket button while that's only let's you that's not the other high wire now I thought he gave it up hot. Eye popping his right we have been through a ban on a -- and it's not because I've got a reflex and that direct this just unbelievable that were asked a specific about the up. Bank nationalization stuff we keep. You know people talking about it in different ways as and dusty in the most recent iteration the government will throw another 25 -- and give -- a few bucks. It to Citicorp in exchange for. Common ownership. Equity shares. It -- and the government might now have close to forty per cent now I know 51 and is kind of the math that most people would use. But you've got inside familiarity in the world of finance finance a business doesn't really anybody who won't 40% that's the guy or gal who -- it calls the shots right."

" Well effectively that's a very large block. The government will have Ortiz with that blog be outside forums -- so I wouldn't call it complete nationalization of the hybrid structure. You know the issue as a as a step back what's going on as is is is the three things we talked about every week that has happened here once stabilize the banks. To some testing and assembly to -- comes -- in the economy. And and then three then come up with some regulations and better enforcement those regulations so we don't get in the same situation again that we were -- that right now. And the problem is as things move so quickly. You know we we we seem to be don't know a lot of directions with this budget. Very large stimulus we're talking about reforming healthcare. We're talking about stabilize the banks and while we're talking about all that is so the first set of banks is up and stabilize. So -- step back and look at -- in that job one is to get to banks stabilized and that either with equity injections creating a bad bank. But it seems like we're trying to do everything at once and throwing throwing everything at this this problem I believe we should not sit back and do nothing. But. The number one thing because stabilize the banks and lending happening. -- and number two things is is is is stimulus. And is it looks like you know we are going a lot of different directions and and throwing a lot of money in a lot of things and I'm wondering if says it is too much does not thoughtful enough."

" I don't I don't think anyone is is recommending doing nothing in and that's not the option option is. Between doing the right thing in the wrong thing and granted it's hard to know what the right thing is but when you look at for example General Motors reporting thirty billion dollars in losses and expecting to continue to lose a couple billion dollars a month. It becomes a scary thought to think about devoting resources to a company like that."

" If it doesn't and and in history of time it hasn't worked at that great for governments to you know try to capitalist companies. So so again I think we got to step back and say let's really get the banks stabilized -- focus you know 90% of their efforts on getting the -- Stabilized. Because then that would give you know you know business. And -- services. It's kind of clear said the -- that was going to have a future as we keep. Moving and changing and re capitalizing in. Stabilized -- that that it's more certain in the markets in the markets. Go down dramatically in the last couple weeks. So job one that means it was those things -- to his. Is that for the GMs and -- the fortunes situations where you're you're really try to get rich and not a bankruptcy but bridge is to restructured company. You know we've got to do that you know festive periods and set a deadline that we we either have to go through some kind of bankruptcy proceeding or -- new kind of -- in the -- out of it. And ended in in thirty or sixty days if he is we gonna have death by a thousand cuts if we just keep putting more -- money and and there's not a plan the deadline and people look under the table restructure the company so. So my advice -- is. Stabilize the bank's focus on that do -- need to take to do that because the system the financial system won't -- going analysts that happens first. And certainly put a deadline on these these private sector initiatives like like the the -- auto industry. And and then and six that -- say look we have to have it restructured or we have to have a chapter proceeding in ninety days because the longer it goes. The less demand will be the more assertive be a different about it."

" But is there an answer how to stabilize the banks."

" I think there is I think you need to that you need to focus on the bank city you know there they are having holes in the capital structure you need to make some. Very aggressive assumptions about the -- need to be filled. And that take as much equity is necessary it's okay that these issues over we've -- about the books. The banks are are stabilized they have. Are lending again and and we can start --"

" While there is so much to do in business since this is not clear what."