Do they send this notices to their Channel Island's Tax haven? Is that why they're so far behind on the whole mortgage-paper-value-is-declining thingie?
I'm sure these patriots are paying their fair share of taxes on this off-shore income. So I feel good that they'll be able to deduct these losses against their next ten years of income.
liquidity is so, ah, yesterday.
solvency is the new black. Or are shades of grey the new black?
About time for some loosening of the mark to market requirements and relaxation of capital requirements, or am early on that?
back in the 80s oil patch bust, the following sayings were popular-
just stay alive til '85.
things'll be fixed in '86.
chapter 11 in '87.
If Carlyle sold $21.7 billion of debt so it could use the proceeds to buy other people's debt, then who bought the debt that Carlyle floated? I hope it wasn't my 401K.
Who is going to inform average people that aren't financially wise that the
"peril"
"catastrophe"
"black hole"
"danger"
etc. etc. etc. etc.
are in fact simple some Banks and investors losing some money and trying to make the public think it has to act somehow to "save" the situation (save the rich investors from a modest personal loss).
No matter what happens,
Banks will fail.
Job losses will be significant as the economy shifts away from excess capacities in the bubble affected related industries.
All of this will aid in the intentional calculated attempt to create fear and a bailout.
But who will help to inform the general public that taxpayers cannot avert a recession or improve the situation?
lonesome, carlyle did not float debt to leverage MBS they prob used repo with 3% haircuts - at one time before The Crunch that was normal for pools and floaters. they sold a boat load of floaters at a firesale this week - at 250dm! - every time they sold they pushed the mkt down and got more calls. their utterly stoopid move was overleverage not necessarily the bet on agy collateral.
Why does this not pass the smell test to me? A spin-off from Carlyle pops into existence in July 2007 with $17B mortgage-backed securities, massive debt, and minimal capital... isn't this just a (successfully-executed) version of Bear Stern's Everquest IPO plan?
This could be answered if we knew where the original $17B in founding securities came from; if purchased from other Carlyle units, I'd say we have a winner (wiener).
I'm not the first to point this out but... what are we to make of the fact that the same US economy that is failing all around us has been led to the cliff by the BEST and BRIGHTEST graduates of our top Ivy league (and others) business schools. Apparently earning a MBA from Harvard,Yale, Princeton, etc requires students to learn how to lie and steal their way to bilions in annual compensation and laugh at the little guy while being chauffered "all the way to the bank."
I'd be as gleeful as many of the posters here if I didn't know that these thieves don't give a shit. Their pockets are well lined... property in Bolivia, and elsewhere, secured... accounts in Switzerland (and the Cayman Islands, etc.) free from any oversight or regulation.
Quite frankly, I'm NOT sure that this war is ever gonna end... least of all in my lifetime.
"I'm not the first to point this out but... what are we to make of the fact that the same US economy that is failing all around us has been led to the cliff by the BEST and BRIGHTEST graduates of our top Ivy league (and others) business schools. Apparently earning a MBA from Harvard,Yale, Princeton, etc requires students to learn how to lie and steal their way to bilions in annual compensation and laugh at the little guy while being chauffered "all the way to the bank."
Doesn't matter whether they're good people or lying monsters. They all want to succeed. And good people in a bad system produce bad results. They do what they're incented to do.
"quite frankly, I'm NOT sure that this war is ever gonna end... least of all in my lifetime."
just in the last week, a friend of the family went bonkers, a preexisting condition to be sure, and brought on by some family issues - but I wonder when things really start to go south, who will end up as psychic basket cases. I hope I don't.
Who lends $21.7B to a company with $670M in assets? I mean, ignoring my med school debt, I have some $40K liquid. May I borrow a million dollars on that collateral, please, and use it to buy bonds?
Carlyle Capital is burnt toast.
I wonder how quickly the govt will step in now that it's hitting the bush family bottom line?
Uh-oh.
As someone else pointed out, these guys seem to have every big shot but the Pope and the Queen of England as a board member or adviser or something.
We are all subprime now?
What stopped them at 32?
Marcel writes:
What stopped them at 32?
Prudence.
Aunt Prudence is from Barbara's side of the family, no?
Couldn't have happened to a nicer bunch of guys.
Do they send this notices to their Channel Island's Tax haven? Is that why they're so far behind on the whole mortgage-paper-value-is-declining thingie?
I'm sure these patriots are paying their fair share of taxes on this off-shore income. So I feel good that they'll be able to deduct these losses against their next ten years of income.
liquidity is so, ah, yesterday.
solvency is the new black. Or are shades of grey the new black?
About time for some loosening of the mark to market requirements and relaxation of capital requirements, or am early on that?
back in the 80s oil patch bust, the following sayings were popular-
just stay alive til '85.
things'll be fixed in '86.
chapter 11 in '87.
in that spirit--
things'll be fine in '09.
Oh. Poppy and Babs must be sad....
If Carlyle sold $21.7 billion of debt so it could use the proceeds to buy other people's debt, then who bought the debt that Carlyle floated? I hope it wasn't my 401K.
Nemo beat me to it. Ah, karma....
Like Dubya likes to say, "Who coulda known?" I wonder if he and Poppy will accept that excuse when their own money is on the line?
Who is going to inform average people that aren't financially wise that the
"peril"
"catastrophe"
"black hole"
"danger"
etc. etc. etc. etc.
are in fact simple some Banks and investors losing some money and trying to make the public think it has to act somehow to "save" the situation (save the rich investors from a modest personal loss).
No matter what happens,
Banks will fail.
Job losses will be significant as the economy shifts away from excess capacities in the bubble affected related industries.
All of this will aid in the intentional calculated attempt to create fear and a bailout.
But who will help to inform the general public that taxpayers cannot avert a recession or improve the situation?
lonesome moderate,
Maybe Carlyle was buying its own debt back over and over.... Hehehehe
Wasn't Carlyle suppose to pick up the $45 billion in mortgages that Citigroup wanted to sell?
Ha Ha!
No one'll have a dime in '09.
President Bush: 'We recognized the problem early
So, should I sell my Jun puts on the SP500 now?
selling is picking up momentum. Last half-hour of trading should be fun.
Technicals have broken down. Don't bet against Charlie Rumor-rino coming out on CNBC with another fabrication.
Don't you just love weekends.
lonesome, carlyle did not float debt to leverage MBS they prob used repo with 3% haircuts - at one time before The Crunch that was normal for pools and floaters. they sold a boat load of floaters at a firesale this week - at 250dm! - every time they sold they pushed the mkt down and got more calls. their utterly stoopid move was overleverage not necessarily the bet on agy collateral.
I agree - it couldn't have happened to a nicer bunch of war profiteers and crony capitalists.
Why does this not pass the smell test to me? A spin-off from Carlyle pops into existence in July 2007 with $17B mortgage-backed securities, massive debt, and minimal capital... isn't this just a (successfully-executed) version of Bear Stern's Everquest
IPO plan?
This could be answered if we knew where the original $17B in founding securities came from; if purchased from other Carlyle units, I'd say we have a winner (wiener).
I'm not the first to point this out but... what are we to make of the fact that the same US economy that is failing all around us has been led to the cliff by the BEST and BRIGHTEST graduates of our top Ivy league (and others) business schools. Apparently earning a MBA from Harvard,Yale, Princeton, etc requires students to learn how to lie and steal their way to bilions in annual compensation and laugh at the little guy while being chauffered "all the way to the bank."
I'd be as gleeful as many of the posters here if I didn't know that these thieves don't give a shit. Their pockets are well lined... property in Bolivia, and elsewhere, secured... accounts in Switzerland (and the Cayman Islands, etc.) free from any oversight or regulation.
Quite frankly, I'm NOT sure that this war is ever gonna end... least of all in my lifetime.
"I'm not the first to point this out but... what are we to make of the fact that the same US economy that is failing all around us has been led to the cliff by the BEST and BRIGHTEST graduates of our top Ivy league (and others) business schools. Apparently earning a MBA from Harvard,Yale, Princeton, etc requires students to learn how to lie and steal their way to bilions in annual compensation and laugh at the little guy while being chauffered "all the way to the bank."
Doesn't matter whether they're good people or lying monsters. They all want to succeed. And good people in a bad system produce bad results. They do what they're incented to do.
"quite frankly, I'm NOT sure that this war is ever gonna end... least of all in my lifetime."
just in the last week, a friend of the family went bonkers, a preexisting condition to be sure, and brought on by some family issues - but I wonder when things really start to go south, who will end up as psychic basket cases. I hope I don't.
Not to nitpick, but Princeton doesn't have an MBA program and Yale isn't known for it's financial grads.
Wharton and Columbia make good substitutions though.
Who lends $21.7B to a company with $670M in assets? I mean, ignoring my med school debt, I have some $40K liquid. May I borrow a million dollars on that collateral, please, and use it to buy bonds?
This is infuriatingly pathetic.
Ya think the Fed would accept 'Iraq' as collateral in a TAF swap?
Homes, can you spare a dime in '09?
I wonder how quickly the govt will step in now that it's hitting the bush family bottom line?
It will hit Carlyle's income (management fees), but not their balance sheet.
The are the managers. "Carlyle Capital" is OPM.