Merge Overkill

  • Aired:  02/27/13
  •  | Views: 13,549

The Wall Street merger boom is entirely rational because there is not and will never be a downside. (2:48)

>> Jon: WELCOME TO "THE DAILY SHOW".

MY NAME IS JON STEWART.

GOT A GOOD ONE TONIGHT.

WE GOT OUR GUEST TONIGHT R.J.

CUTLER MADE A DOCUMENTARY ABOUT DICK CHENEY AND --

[LAUGHTER]

[LAUGHTER]

-- DID YOU GUYS JUST GET REALLY COLD?

[LAUGHTER]

FIRST LET'S TALK ABOUT THE TOP STORY TONIGHT, THE FRAGILE ECONOMY.

ECONOMIC GROWTH IS STAGNATED.

UNMYMENT IS STUB BORNLY HIGH AND BY MIDNIGHT TOMORROW THE SPENDING CUTS, SEQUESTER,

CONGRESS AND THE PRESIDENT SUBJECTED THEMSELVES TO TO FORCE THEM TO MAKE A DEAL BEFORE THE

SEQUESTER TOOK EFFECT BECAUSE THE EFFECTS WOULD BE SO DRASTIC AND DIRE THAT IT'S TAKING EFFECT.

LISTEN, THIS IS BAD NEWS MY BROTHERS.

YOU CAN IMAGINE WHAT THE MOOD ON WALL STREET IS.

>> HOPE AND OPTIMISM HERE ON WALL STREET.

>> MERGER MANIA IS BACK.

>> THE HIGHEST BUBBLE SINCE 2005.

>> MERGER MANIA IS BACK WITH A VENGEANCE.

>> Jon: AH-HA!

WHOO!

WHAT ELSE WOULD IT BE BACK WITH?

HUMILITY?

NO (bleep) VENGEANCE.

THE MERGER MANIA.

WHO ARE THE LUCKY COUPLES.

DETAILS.

>> OFFENSE DEPOT AND OFFICE MAX ARE MERGE.

>> AND HIGHER BUSCH AND GROUPO MODELO.

>> WARREN BUFFETT IS BUYING HEINZ.

>> Jon: JIFFY POP AND JIFFY LUBE.

THE TWO OFFICE COMPANIES MAKES SENSE, NOT SO CLEAR ON WHY BUFFETT AND HEINZ ARE GETTING TOGETHER.

I GUESS IT'S A STRATEGIC VALUE ADD THE ACQUISITION FOR BUFFETT TOUR A TERRIBLE MISUNDERSTANDING

BETWEEN HIM AND HIS SECRETARY.

HE SAID GET ME SOME KETCHUP.

SO I GOT YOU A KETCHUP COMPANY.

[ LAUGHTER ]

THE POINT IS THE FINANCIAL JOURNALISTS INBRIDLED ENTHUSIASM FOR THIS MERGER BOOM IS ENTIRELY

RATIONAL BECAUSE THERE IS NO AND NEVER BE A DOWNSIDE.

>> YOU HAD THE LEVERAGE BUYOUT BOOM OF 2007.

HE HAD THE DOT COM MANIA AND GOING BACK TO THE 80s THE JUNK BOND BONANZA.

ALL OF THESE ARE MERGER BOOM AS LONG WITH THEM AND THEY ALL ENDED BADLY.

>> Jon: DESTROY THES BUT DISTILL.

DESTROY THES BUT KILL BUZZ KILL WHO CAME FROM THE SET OF MADMEN.

DESTROY HIM.

HE IS USING THE PAST TO PREDICT

Loading...