http://www.nakedcapitalism.com/2008/05/blackstone-chief-calls-credit-recovery.html Sun, 22 Nov 2009 22:11:10 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.nakedcapitalism.com/2008/05/blackstone-chief-calls-credit-recovery.html#comment-8099 Richard Kline Fri, 16 May 2008 04:22:00 +0000 http://www.nakedcapitalism.com/2008/05/blackstone-chief-calls-credit-recovery-eye-of-the-hurricane/#comment-8099 Let's see: the market for LBO deals is alleged to have improved because . . . an underwriting syndicate led by Citi were litigated into placing a moderately downprice deal still at a loss for themselves. That's an 'improvement' in a world where losing less means winning. Such 'improvements' can continue, one supposes, until there's nothing left to lose or something to gain. I would bet on the former if I was putting money in this game. Let’s see: the market for LBO deals is alleged to have improved because . . . an underwriting syndicate led by Citi were litigated into placing a moderately downprice deal still at a loss for themselves. That’s an ‘improvement’ in a world where losing less means winning. Such ‘improvements’ can continue, one supposes, until there’s nothing left to lose or something to gain. I would bet on the former if I was putting money in this game.

]]> http://www.nakedcapitalism.com/2008/05/blackstone-chief-calls-credit-recovery.html#comment-8096 S Fri, 16 May 2008 02:30:00 +0000 http://www.nakedcapitalism.com/2008/05/blackstone-chief-calls-credit-recovery-eye-of-the-hurricane/#comment-8096 FT has a good post on the banks abusing the ECB facility. I recall yu had a post with an interview with a former banker who called the LEH wrap that was meant to depsoit CMBS (?) at the Fed. LEH claimed it was clever and I believe you quoted someone saying it was pretrty sad if that is what passes for clever these days. To cap it off the WSJ is reporting the FEds are poking thier noses around Libor. Here we go again. Fed funds has outlived its useful life so now go directly to the traders and seek manipulation this way. When does it end. I'd be interested in what the impications are for social security, retirement are if the stock market entered a protracted period of flat to down returns..unfathomable today but not historically. Couple that with some survey today that reported the average balance forretirment is something like 60K. Mission control, we have a problem. FT has a good post on the banks abusing the ECB facility. I recall yu had a post with an interview with a former banker who called the LEH wrap that was meant to depsoit CMBS (?) at the Fed. LEH claimed it was clever and I believe you quoted someone saying it was pretrty sad if that is what passes for clever these days. To cap it off the WSJ is reporting the FEds are poking thier noses around Libor. Here we go again. Fed funds has outlived its useful life so now go directly to the traders and seek manipulation this way. When does it end. I’d be interested in what the impications are for social security, retirement are if the stock market entered a protracted period of flat to down returns..unfathomable today but not historically. Couple that with some survey today that reported the average balance forretirment is something like 60K. Mission control, we have a problem.

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