Ken Langone Says That Home Depot Would Have Struggled In Today's Economy

Ken Langone, venture capitalist, investment banker and financial backer of Home Depot HD, appeared on CNBC Thursday morning and said that Home Depot would never have been in the black had it had to abide by the way the economy works today. He stated that there are laws that make it very difficult for businesses to survive and go public. “At the beginning, we depended heavily on capital from public markets. Now, if you look at the some of the laws. For example, the insanity of the environmental laws – they do no food to the public.” He also talked about the need to leverage expenses against headcount. “With the new healthcare plans, it's more imperative than ever to take headcount out.” Langone also said that the country should, “pay teachers as much as you can, but make sure you get the results from them.”