GMAC applied for bank holding company status to gain access to a Treasury capital investment. Boston Private Financial Holdings will get $153 million in the same program via the sale of preferred shares and common stock warrants.
GMAC-majority owned by Cerberus Capital Management
BPFH-affiliate of The Carlyle Group
Why do private equity underwriters (PEU's) need the taxpayer to recapitalize their affiliates? Supposedly they have billions on the sidelines, waiting for values of financial firms to plummet before leaving their vulture branch.
Why aren't they putting their own money to work? No credit. Gee, wasn't that the reason for the emergency $700 billion financial rescue program (FRP)? May I suggest a new name?
FECKLESS
Financial Equity Capitalization for Key Loaners Eviscerated by Sorry Securitizations (and Short Selling)
GMAC-majority owned by Cerberus Capital Management
BPFH-affiliate of The Carlyle Group
Why do private equity underwriters (PEU's) need the taxpayer to recapitalize their affiliates? Supposedly they have billions on the sidelines, waiting for values of financial firms to plummet before leaving their vulture branch.
Why aren't they putting their own money to work? No credit. Gee, wasn't that the reason for the emergency $700 billion financial rescue program (FRP)? May I suggest a new name?
FECKLESS
Financial Equity Capitalization for Key Loaners Eviscerated by Sorry Securitizations (and Short Selling)
No comments:
Post a Comment