Today’s conference call includes forward-looking statements and projections, and we ask that you refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from these forward-looking statements and projections. We do not undertake to update our forward-looking statements unless required by law. To obtain copies of our latest SEC filings, please visit our website or call investor relations at 914-286-6855.
The format for today’s call is as follows. Len will provide an overview, and Alex will provide an update on our capital structure, and summarize the financials, and then we will open the line for Q&A.
I will now turn the call over to our CEO, Len Tannenbaum.
Len TannenbaumThank you, David and good morning everyone. Let me quickly restate our outlook from our last earnings call. We believe taxes will increase next year, unless Republicans win (inaudible) office and secure majorities in both the house and state. While the election notes consistently evolve through the year, we anticipate election results, one of the material impact on our M&A activity. The tax increases that are anticipated to come to path next year as the Bush tax cuts expire together with the extra tax from ObamaCare is encouraging business owners to pull forward in to 2012, any sales plans they had originally laid out in the next few years. We are also noticing the initial starting to battle three coming into play as the big U.S. banks start to ease-off on lending and advance the new standards taking effect. Finally, we believe the immense deleveraging of Europe in the need to amass hundreds of billions of dollars in equity to sharp its delicate banking system, will also contribute to the dream on global liquidity. As noted during our last earnings call, we believe to counter balance of these Quantitative easing. QE is latest craze with everyone in the freight. It’s difficult to predict how this might offset and drive capital clause, but we have Fifth Street financial control however is how we optimized our shareholder value.
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