find more woes detailed


	find more woes detailed

narain_47

5-15-2008 10:44 AM

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tags:

recession, banks, losses

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/7e4cef2c-acce-412a-b4ce-f4306f9c5ef0/4BA2BAC3-4ABE-4616-9B43-C73425D32E87/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/index.htm?postversion=2008051507" href="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/index.htm?postversion=2008051507" style="font-size: 11px;">money.cnn.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/index.htm?postversion=2008051507"><H1>The year of the vulture</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/index.htm?postversion=2008051507"><H2>The private equity firms that will thrive in the year ahead are those that know how to profit from others' misfortunes.</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/index.htm?postversion=2008051507"><DIV>By <A href="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/mailto:asloan@fortunemail.com">Allan Sloan</A> and <A href="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/mailto:kbenner@fortunemail.com">Katie Benner</A></DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/index.htm?postversion=2008051507"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/money.cnn.com/img/468D489B-48CF-4F7D-89D9-17EC01AC961B" alt="vulture.03.jpg" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/index.htm?postversion=2008051507"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/money.cnn.com/img/4DCC8F6F-AA8F-4DDE-B656-CA3C545326A3" alt="james.03.jpg" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.cnn.com/2008/05/12/news/companies/year_of_the_vulture_sloan.fortune/index.htm?postversion=2008051507"><P>One slide read, "The collapse of a major investment house," evoking groans - Bear Stearns had collapsed two weeks earlier. "End of the 'leveraged' era," read another. "Middle East investor buys major stake in a U.S. bank." The audience nodded along to this drumbeat of bad news, thinking about how the Abu Dhabi Investment Authority had poured capital into Citi. But before the conference could turn into a wake, Klein revealed that the stories were not from this past year ... but from 1990 and '91. The bank in question was Drexel Burnham Lambert, which was a casualty of the junk bond collapse. The Middle Eastern investor in Citicorp was Saudi Prince Alwaleed bin Talal bin Abdul Aziz al Saud. </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4BA2BAC3-4ABE-4616-9B43-C73425D32E87/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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