2/20/09

They don't even try to hide it anymore

All ambitions are lawful except those which climb upward on the miseries or credulities of mankind. - Joseph Conrad

District's Carlyle Senses a Profit in Toxic Bank Assets

Seeking to jump-start the economy, Treasury Secretary Timothy F. Geithner last week said he will seek private-sector help for the banks, offering loans at favorable rates and putting up government backing to reduce the risks to investors like Carlyle.

With $40 billion in cash on the sidelines waiting for the right play, Carlyle could find many profitable deals in the financial sector.

Two of the firm's co-founders, William E. Conway Jr. and David M. Rubenstein, have been saying for months that there is a role for private equity in the bank bailout and that there's money to be made.

"Private equity has a lot of experience buying assets at distressed prices, and we expect to see a lot of attractively priced assets," Rubenstein said in a September interview. "It's likely that private equity will be a big investor in this area. It's good that private-equity firms are in good shape and have the resources to buy some of these assets and help the system."

What system is that, asshole?

2 comments:

kenny said...

Carlyle...always a Bush connection.

In conjunction with the Federal Reserve they will try and mop up after the slaughter and if they have their way, big profits are to follow.

Any suggestions on how to stop this crime spree?

A. Peasant said...

Hey, Kenny. I don't know so much how to stop the crime spree other than what we're already doing, and you really rock at it by the way.

The rest of it is going to be up to us. How will we handle the disintegration? Are we prepared? Will we panic? These are the things that people need to digest before things get much worse, so that paralysis doesn't set in.

legal mumbo jumbo

Disclaimer: The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.

Fair Use: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.