HowardWill Chrysler Deal Go Bust?
The BIS (Swiss based Bank for Intl Settlements) has let out the word that a credit crunch has hit. The first dead bodies were the $9 billion Bear Stearns Hedge Funds. This is why Cheney, etc. are so desperate for a war. Only wartime dictatorship can hold this system together even for a while. It really is going fast. John Snow of Cereberus is getting a global cooling bad, on his dealie-poo.
The interest rates on the Cereberus deal have gone over 9-percent but the banks can't sell the $12 billion in junk. They just can't do it. London Fin Times say they have lost $6 billion already in trying to push the deal. Wow! That is not pocket change. So 9-billion here, 6-billion here, that is beginning to add up. Cash is doing a magic act and disappearing. Similar things are happeninng in the dead, not done deal of KKR's takeover of the Alliance Boots, a British chain drugstore. (If anything happens to New York City's Duane Reade, my high blood pressure is going through the ceiling). The potential $7 billion Cadbuy Schweppes deal seems to be DOA, no private equity firm even wants to do the deal.
The interest rates on the Cereberus deal have gone over 9-percent but the banks can't sell the $12 billion in junk. They just can't do it. London Fin Times say they have lost $6 billion already in trying to push the deal. Wow! That is not pocket change. So 9-billion here, 6-billion here, that is beginning to add up. Cash is doing a magic act and disappearing. Similar things are happeninng in the dead, not done deal of KKR's takeover of the Alliance Boots, a British chain drugstore. (If anything happens to New York City's Duane Reade, my high blood pressure is going through the ceiling). The potential $7 billion Cadbuy Schweppes deal seems to be DOA, no private equity firm even wants to do the deal.
