Stephen Pagliuca

We really wake up every day trying to build businesses. That is the goal of private equity. It's a misnomer out there that private equity profits by shrinking companies. In fact, it's just the opposite. Private equity creates value by growing great companies.

Though builders may build, in the main they follow the plans of architects. Teachers teach, but they must have a text. Politicians govern, but only upon the flow of commentary that raises them up or casts them down.

Well, there's no question that the law passed in 1996 was flawed. It deregulated the wholesale market, meaning the price that the utilities had to pay energy companies for power, but not the retail market.