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Takeovers have a legitimate function: to weed out weak companies.
Alliances between strong and weak companies rarely work.
Others said deflation would help restructure the economy by weeding out weak companies.
"But it's an awful time for two weak companies to merge".
Weak companies that were fooled by the telecommunications bubble have already gone under.
Two or more weak companies join forces, hoping that together they will improve their positions.
Those weak companies, in turn, undermine revenues at stronger companies and push more of them to the wall.
But is subsidising weak companies really the best way to start a new era of liberal political dominance?
Mr. Rohatyn could be remarkably unsentimental in his day job, in which he found and helped devour weak companies.
Alliances of the weak often begin when weak companies join to try to compete in scale-intensive businesses.
Weak companies face pressure from less demand and access to credit, most visibly in the retail and automotive sectors, but elsewhere as well.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com