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	Credit Crunch

Forbes Business

7-24-2007 12:44 PM

410 views

tags:

junk bonds, derivatives, kohlberg kravis roberts

Forbes Business says:

If it's getting harder for KKR's Henry Kravis to borrow money on his own terms, imagine what the subprime mortgage meltdown is doing to the rest of us. -- Liz Moyer

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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://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/81d7f15f-08f7-4b3b-bf6f-295e2f71c97d/1BE7BA69-66AA-4ABD-AED0-D574BA017F42/" 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://www.bloomberg.com/apps/news?pid=20601087&sid=a5N1O2zRUVNs&refer=home" href="http://www.bloomberg.com/apps/news?pid=20601087&sid=a5N1O2zRUVNs&refer=home" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a5N1O2zRUVNs&refer=home">KKR, Homeowners Face Funding Drain as CDO Sales Slow</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://www.bloomberg.com/apps/news?pid=20601087&sid=a5N1O2zRUVNs&refer=home">The Wall Street money-machine known
as collateralized debt obligations is grinding to a halt,
imperiling $8.6 billion in annual underwriting fees and reducing
credit for everyone from buyout king Henry Kravis to homeowners.</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://www.bloomberg.com/apps/news?pid=20601087&sid=a5N1O2zRUVNs&refer=home"> Sales of the securities -- used to pool bonds, loans and
their derivatives into new debt -- dwindled to $9.1 billion in
the U.S. this month from $42 billion in June, analysts at New
York-based JPMorgan Chase & Co. said</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://www.bloomberg.com/apps/news?pid=20601087&sid=a5N1O2zRUVNs&refer=home"> ``We're walking on thin ice,'' said Alexander Baskov, a
fund manager who helps oversee $25 billion of high-yield debt
for Pictet Asset Management SA in Geneva. </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/1BE7BA69-66AA-4ABD-AED0-D574BA017F42/blog/" title="blog or email this clip"><img src="http://content6.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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