nytimes.com - 12/29/2008
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The proposed deal is unusual because it is one of the first transactions involving unregulated private equity firms acquiring a majority stake in a bank holding company. >
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Report: IndyMac Deal Near
Calculated Risk —
From the NY Times: Private Equity Firms Are Near Deal to Buy IndyMac The deal is in the final stages of negotiations, which are private, and could be announced as early as Monday ... The team of buyers include the private equity firms J. C. Flowers & Company and Dune Capital Management and the hedge fund Paulson & Company, the people involved in the deal said. It was unclear exactly how much capital the buyers would inject into IndyMac, but they would be shouldering a portion of the losses the bank may have on mortgages and other assets, these people said. The ...
Opening Bell: 12.29.08
Dealbreaker —
Credit Suisse Investors May Have Lost ~$1B With Madoff (Reuters)
So, Credit Suisse didn't actually invest with Madoff, and the Hedge Funds they use/sell didn't invest in Madoff, but their client base did. Is it possible the Credit giant knew better than to invest with Madoff, and if they did know better, what did they know?
PE Firms Close To IndyMac Deal (NYT)
J.C. Flowers, Dune Capital Management, and Paulson & Company are teaming with the FDIC and some ex Lehman Brothers bankers to put together the deal, though specifics aren't known. ...
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Washington Mutual sues FDIC for over $13 billion
| U.S.
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What do Private Equity Firms do all Day?
businessweek.com 7/26/2009 — What are people at private equity firms doing all day now that so few deals getting done? Suduko? Facebook?
According to a white paper by auditors Grant Thornton and the Association for Corporate growth, a private equity industry group, people at ...
Taleb Says Stock Rout Threatens Private-Equity Firms (Update2)
bloomberg.com 1/28/2009 — Jan. 28 (Bloomberg) -- Private-equity firms may follow banks into failure should U.S. stocks extend their worst rout since the Great Depression, said Nassim Nicholas Taleb , author of the best- selling finance book “The Black Swan.” The industry uses ...
Deal Journal - WSJ.com : Mean Street: Why I'm Buying the Financials
blogs.wsj.com 10/7/2008 — Well, you can’t say 2008 has been boring. Bear Stearns, gone. Lehman Brothers, gone. Merrill Lynch, gone. Washington Mutual, gone. Wachovia, gone. Fannie and Freddie, basically gone. AIG, almost gone. meanstreet Absolute carnage. The fastest ...
FDIC Troubled Bank List Up to 252
fundmymutualfund.com 2/26/2009 — That headline is very deceiving - let's be very clear here on reality versus good PR. Flashback to August 2008 [ Aug 26, 2008: FDIC Troubled Bank List ] ...every quarter the FDIC updates it's problem list; I'm on record saying when we look back in 12, 18, 24 months we'll see a slew of bank ...
Irregularity Is Uncovered at IndyMac Bank
nytimes.com 12/23/2008 — WASHINGTON Two months before IndyMac Bancorp collapsed in July, at a cost of $8.9 billion to taxpayers, a top federal banking regulator allowed the bank to backdate a capital infusion and gloss over its deepening problems, the Treasury Department’s ...
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