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...When banks such as Japan’s Long-Term Credit Bank failed in the late 1990s, critics wailed about idiosyncratic “scandals”, such as the fact that some LTCB managers stuffed embarrassing records of loan losses...
...So, every time you move something out of a banking system, you de-lever the system....
...Two years later, the entire banking system was on the brink of collapse and billions of taxpayer dollars were used to prop it back up....
...In the more than decade-long period of low interest rates, the average buyout fund returned around 18 per cent, according to data from Adams Street Partners....
...private equity buyout and real estate businesses that have long been its cornerstone....
...Loewy, a suave French-born industrial designer who had a way of claiming credit where credit was not necessarily due. He did not design the Coke bottle, as the Loewy Foundation website still suggests....
...That’s what we missed: how the policy response to the regional banking crisis stabilised the banking system, which allowed a pretty sharp V-shaped recovery....
...This approach to credit extension makes the system safer and also supports the economy in challenging times....
...said the head of one Sequoia LP, a sovereign wealth fund....
...LPs finding themselves overcommitted to the asset class on the tail-end of the decade-long boom are also selling stakes in large buyout funds in the secondaries market, selling at up to 20 per cent discounts...
...You know, I use it to try and fix the system. If this system wasn’t collapsing, I’ll be on the beach somewhere in the Philippines drinking pina coladas....
...Schwartz must also decide which businesses, from credit to sustainable investments, can be expanded against a more challenging financial backdrop and which ones should be jettisoned....
...Some asylum seekers are staying in a squat on Brussels’ Rue de la Loi, just next to the headquarters of De Moor’s party, CD&V....
...They swipe their badge so they get the kind of credit for being in the office that day....
...It limits credit risk and is available on the exchange.”...
...The problems of Southwest Airlines look modest in comparison. The inadequate IT systems of the US low-cost carrier were shown up by a brief cold snap....
...Its $440bn credit arm makes more business loans than some midsize banks, making it not so much an investment outfit as an alternative financial system....
...Karin’s decisive actions in dealing with the Credit Suisse banking crisis earlier this year rescued the Swiss economy. We all owe her a debt of gratitude....
...The long story has to do with interest rates. And so, you know, the main thing to understand about SVB is the S and the V — Silicon Valley, right? It’s taking deposits from Silicon Valley start-ups....
...If you don't have access to credit, you really can't fully participate, not only in the financial system, but in the democracy. The social contract with banks has been broken....
...Rupak Ghose is the chief operating officer of Galytix, former head of corporate strategy at ICAP/NEX and a former financials research analyst at Credit Suisse....
...Though Brzezinski is too diplomatic to point it out, that struggle is by no means over, not least because of Law and Justice’s meddling in Poland’s judicial system....
...The court ruled that a financing deal signed by a church-aligned housing group in Michigan allowed AIG and Blackstone to “reap the benefits from the housing tax credits, not from the property’s long-term...
...His latest work examining the US’s pandemic response reflects a similarly broken system. Read the FT interview here....
...At the end of June, Lilium had about €230mn in cash, with another €75mn in credit, and was burning cash at €60mn per quarter....
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