The notion that laws, regulations and rulings promulgated by foreign bureaucracies, organizations and courts should be considered to have equal standing, if not more, than those produced pursuant to the U.S. Constitution and Code further undermines the latter.

CENTERFORSECURITYPOLICY: 'Here, the people rule'

The debt-laden company will be making interest payments on the debt over the years. (Preferred stock and convertibles that pay interest should also be considered debt for the purposes of calculating value.) So, even though the two companies have equal market caps, the company with debt is worth more.

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