Credentialism and Corruption: Neoliberalism as Lived Experience
How do these people live with themselves.
Read more...Category Archives: Private equity
How CalPERS Was Taken By Private Equity Firm Silver Lake and Tried to Hide That (A Tale of Two Spreadsheets)
CalPERS told two very different stories about how well its investment in Silver Lake, the general partner, fared. Which should we believe?
Read more...Caesars Bankruptcy Fight Over Alleged Fraudulent Transfers Opens Window on Private Equity Looting
Creditor suits against private equity kingpins Apollo and TPG for the failed Caesars’ deal have already revealed a lot of dirt, with more sure to follow.
Read more...North Carolina Knowingly Allows Fox to Run State Pension Henhouse
North Carolina takes a big step backwards by allowing its sole state pension trustee take jobs that create glaring conflicts of interest.
Read more...A Firm Elizabeth Warren Wants Examined for Statements on Fiduciary Duty Reform is Where the SEC’s Tainted Former Exam Chief, Andrew Bowden, Landed as General Counsel
Former SEC official Andrew Bowden, who resigned over looking too cozy with the SEC, is now general counsel at a firm in Warren’s crosshairs.
Read more...Private Equity Kingpins Whine as Stock Market Values Languish
What word best describes how distasteful it is to see obscenely rich men complain that they aren’t as rich as they think they ought to be? The subhead on a new Financial Times story on private equity tell us: “PE believes investors do not grasp their long-term cash flow generation capabilities.” In other words, this […]
Read more...Is California Treasurer John Chiang Serious About His Private Equity Fee Transparency Bill?
Looking beneath the surface of the lackluster arguments e by Treasurer John Chiang and Assemblyman Ken Cooley for their private equity transparency bill.
Read more...Banks Once Burned, Now Twice Shy About Taking on More Takeover-Deal-Related Junk Debt
Banks have gotten a painful reminder that originating risky assets like junk bonds and loans can leave them holding the bag.
Read more...More Proof of CalSTRS’ Misrepresentations and Foot-Dragging in the Private Equity Carry Fee Scandal
The second biggest public pension fund in California, CalSTRS, again demonstrates it valued maintaining friction-free relationships with private equity firms over protecting its beneficiaries.
Read more...The New Shadow Banks: Private Equity Becomes Private Credit
Private equity funds have launched a host of private credit fund to let them borrow more than banks are allowed to provide. What could go wrong?
Read more...Eric Garland: Seven Lessons from How Private Equity Wrecked Guitar Center
The Guitar Center fiasco as a case study in how not to run a business, and how that indicts private-equity influenced management norms.
Read more...California Treasurer and CalPERS Board Member John Chiang Introduces Private Equity Transparency Bill
California Treasurer John Chiang’s private equity transparency bill has been launched. How does it stack up?
Read more...Wolf Richter: Sudden Death? Junk-Rated Companies Headed for Biggest “Refinancing Cliff” Ever – Moody’s
A refinancing bulge is coming awfully soon.
Read more...Stock Market Investors Abandon Private Equity, Expect No Profits Overall From Current Deals
Equity investors think private equity funds will show no profits on their current deals, which contrasts sharply with portfolio company valuations.
Read more...CalPERS Takes on Risk Where Federal Government Fears to Tread: Provides Liquidity to a Derivatives Central Counterparty on the Cheap
CalPERS has engaged in one of the most bone-headed moves ever, the financial equivalent of picking up pennies before a steamroller.
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