"John R. Carroll" wrote in message
...
Ed Huntress wrote:
"John R. Carroll" wrote in
message ...
Ed Huntress wrote:
"Hawke" wrote in message
...

snip


Tell me something, if you can. In your experience with him, how many
times did he bring you up short as if you'd completely missed the
obvious and then
take the time to "straighten" you out?

That's two questions.

LOL
Schoolin' me are you!
Pretty good.

How many times did he bring me up short like
that? Maybe a half-dozen. Take the time to straighten me out? Never.
I was on my own to figure it out.

We were discussing Oil prices and Paul Krugman a while back and I
mentioned
what I'd seen at first hand.
A professional recounting is he

http://www.washingtonpost.com/wp-dyn...d=sec-business


--

John R. Carroll
www.machiningsolution.com

So, "The Buyout Boys Reload (Their New Killer Deals: Leveraged Purchases Of
Their Own Debt)." It sounds like they're making a new round of money on
their own crap, with the banks holding the bedpan. Are the banks that
desperate for cash? To an outsider, it looks absolutely insane.

If I understand correctly, the banks made the loans to the buyout boys for
the original LBOs; the credit crunch caught the banks in need of cash just
to keep doing business; the buyout targets lost value; the banks are now
holding paper that's worth less money while the buyout boys lost nothing;
and the banks are salvaging what they can by selling the debt at a discount
to the original borrowers (the buyout boys). Is that really right?

If so, I need a couple of Advils.

--
Ed Huntress