May 2, 2018 / 10:01 PM / 5 months ago

Highlights: Speaker Ryan at Milken warns of gridlock with Democratic majority

BEVERLY HILLS, Calif. (Reuters) - The following are highlights from Wednesday’s Milken Institute Global Conference in Beverly Hills:

U.S. House of Representatives Speaker Paul Ryan smiles at the Milken Institute's 21st Global Conference in Beverly Hills, California, U.S. May 2, 2018. REUTERS/Lucy Nicholson

NOURIEL ROUBINI, CHAIRMAN OF ROUBINI MACRO ASSOCIATES AND KNOWN AS DR. DOOM FOR PREDICTING THE CHAOS OF THE 2008 FINANCIAL CRISIS, ON BITCOIN AND CRYPTOCURRENCIES:

“All this talk of decentralization is just bullshit.” He called cryptocurrencies “the mother of all bubbles.”

HOUSE SPEAKER PAUL RYAN, ON HOW PRESIDENT DONALD TRUMP APPROACHES GOVERNING:

Jonathan Sokoloff, Managing Partner, Leonard Green & Partners, L.P., speaks at the Milken Institute's 21st Global Conference in Beverly Hills, California, U.S. May 1, 2018. REUTERS/Lucy Nicholson

“It’s different than running a business. It’s a frustrating political system.”

RYAN ON NOVEMBER’S CONGRESSIONAL ELECTIONS:

“If we do lose control of either of the two bodies, then you’ll have absolute gridlock. You’ll have gridlock, you’ll have subpoenas, you’ll have just the system shutting down…I don’t think we’re going to lose control, but I think that’s what would happen.”

JONATHAN SOKOLOFF, MANAGING PARTNER OF $25 BILLION LEONARD GREEN & PARTNERS, DEFENDING THE ROLE OF PRIVATE EQUITY:

Private equity was a “very, very important part of the economy” and offered a “better model” for companies versus public markets.

“We believe our form of governance and running our businesses is superior.”

Reporting By Lawrence Delevingne, Anna Irrera and Liana Baker; editing by Diane Craft

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