That would be occasion for some nice schadenfraude, but the Carlyle Group is doing just ok. It is Carlyle Capital (managed by the Carlyle Group but publicly listed somewhere in Europe) that is near bankruptcy. The BBC reporter Robert Preston has an interesting take on the fund's troubles: the Fed earlier this week announced an unprecedented plan to lend treasuries against potentially toxic mortgage collateral. So the banks may be anxious to seize such collateral from funds like Carlyle and swap it for Treasuries with the Fed.
Effectively he thinks the Fed killed Carlyle Capital. Good for the Fed. http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/03/the_fed_and_carlyle.html Anyway Carlyle is (literally) yesterday's news. Now the Fed is bailing out Bear Stearns. No more stealth bailouts. It is all out in the open now. http://news.bbc.co.uk/1/hi/business/7296678.stm -raghu. On Fri, Mar 14, 2008 at 9:33 AM, Jim Devine <[EMAIL PROTECTED]> wrote: > according to SLATE, >The Wall Street Journal's top headline describes > a Carlyle Group investment fund as in "free fall." Carlyle Capital's > stock is down 97 percent and is at risk of having its assets seized. > The paper suggests that "connections don't mean much in today's credit > crunch," a reference to the apparent powerlessness of the powerful > owners of the legendary Carlyle Group to defy economic gravity.< > > some on the left (and the right?) seem a bit paranoid about this > Group. it seems to be biting the dust. Of course, the richies involved > can probably afford to take the loss. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
