Consequently, the discussion topic for this week is as following. Taking in consideration the 2009 events that changed access to most debt market activity, the low interest rate environment that followed encouraging companies to borrow, and the recent tax law changes limiting the destructibility of interest on debt, what should be the preferred way of U.S. companies to raise capital? How do you see the capital structures and associated pricing change in the future compared to what’s described in chapter 15? Remember, do not automatically assume that all capital should be equity going forward. If you look at big failures such as Fannie, Freddie and AIG, debt issuers were the only group that will get some of their money back while the groups that provided equity capital to these companies saw their capital get wiped out. Debt Vs. equity, what will be the future of companies’ balance sheets? Also, remember that during the period of 2012-2017, many companies have taken advantage of historically low rates to borrow large amounts of money and while many predicted that the window of opportunity would narrow with rising rates, which has happened in 2018 with rising rates and less new debt issued by corporations.