We’ve certainly had some market turmoil recently. But things could get worse, according to Mark Patterson, chairman of MattlinPatterson, a private equity fund that specializes in investing in distressed companies.
Financial conditions are “probably more challenging than at any time since 1929,” Patterson said, speaking at Dow Jones’ Private Equity Analyst Conference on Monday.
“We’re not in normal […]
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Coordinated government intervention, featuring a temporary ban on short selling, plus a government plan to buy banks’ distressed debt and insurer money market funds had the desired effect on financial stocks Friday.Citigroup, Washington Mutual, Bank of Am
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As CNBC’s on-again, off-again call for the calvary for AIG held the stock market’s attention, Tyler Cowen posted what may well be what we’ll remember about this unusual day: “It’s a little scary that the world’s largest insurance company hasn’t planned for a rainy day.” (Marginal Revolution)
Mark Thoma is monitoring the bailout-moral risk debate on […]
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The government took action Friday morning to ease a potential panic about the safety of Americans’ money — particularly the solvency of money-market mutual funds. The Treasury Department said it will — at least temporarily — guarantee money m
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“Dear readers, let us begin this week’s missive by acknowledging its partial incompleteness. For understandable considerations, there are some capital market situations that we cannot discuss. We thank all our readers for their support and look forward to continuing to provide you with timely analysis.”
This is how Lehman Brothers’ strategists began their last ever weekly […]
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After a few weeks of trying to stand tough in the face of demands
for a wholesale rescue, Hank Paulson apparently couldn’t take it
anymore. So now we’ll have the biggest bailout in history, including:
A huge RTC-like government garbage can
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Staffers at the once No. 4 U.S. investment bank headed into its midtown Manhattan headquarters on Monday morning, armed with bags and suitcases of all sizes.
Their emotions ran the gamut.
One man caught his co-worker’s eye and threw his hands up in the air in dismay before hurrying into Lehman’s global headquarters, a few minutes’ walk from Times Square.
“It is […]
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“Caution”, “nervous”, “uncertain”… not exactly the kind of words usually heard at a private equity conference. Attendees usually have far too much swagger for safety. But those, and worse, were the reiterated remarks at such a conference in New York on Tuesday, hosted by Dow Jones.
“It is going to be eerie for a while,” said Goldman Sachs global head of merchant banking, Richard Friedman. “Risk […]
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