LBO no mo:stop speculators fro ruining small companies

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	LBO no mo:stop speculators fro ruining small companies

doodleicious

12-19-2008 4:42 PM

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economy

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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/df4ffbac-1d65-4aab-a613-4807c9a767be/BCBD7EB8-E0DE-4E63-9FF1-8B26FDC43A95/" 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.smirkingchimp.com/thread/19306" href="http://www.smirkingchimp.com/thread/19306" style="font-size: 11px;">www.smirkingchimp.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.smirkingchimp.com/thread/19306"><P>Leveraged buyouts (LBOs) are Wall Street's solution to American capitalism's dirtiest secret and biggest problem: no one has any money. Really. Working as an investment banker during the 1980s, I was repeatedly astonished when deals would fall apart because would-be buyers of major corporations didn't have enough cash on hand to buy a house in the Hamptons. Many of the wealthiest people in the world, it turned out, have zero or negative net worth. According to The New York Times, for example, one of Donald Trump's biggest sources of income was his job hosting the TV show "The Apprentice." Those buildings with his name on them? He leased his name to developers who liked his brand.</P></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.smirkingchimp.com/thread/19306"><P>It's true: the rich are different than you and me. But not because they're rich. If most "wealthy" people ever had to settle up with their creditors, they'd be worth less than the average homeless Iraq War vet. What they do have--or, until recently, had--big lines of credit.</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/BCBD7EB8-E0DE-4E63-9FF1-8B26FDC43A95/blog/" title="blog or email this clip"><img src="http://content7.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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