Private Equity

Tyler Durden's picture

Frontrunning: April 7





  • Israel, U.S. Lawmakers Press Case Against Iran Nuclear Deal  (WSJ)
  • Rand Paul tries to broaden libertarian appeal (Reuters)
  • Fewer Oil Trains Ply America’s Rails (WSJ)
  • Chicago voters go to polls in first ever mayoral runoff (Reuters)
  • FedEx to buy TNT to expand Europe deliveries (Reuters)
  • Mohamed El-Erian Has Most of His Money in Cash (BBG)
  • In Surprise Move, Australia Holds Rates (WSJ)
  • Oil falls as Iran, China discuss more supply (Reuters)
 
Tyler Durden's picture

The "Revolver Raid" Arrives: A Wave Of Shale Bankruptcies Has Just Been Unleashed





Back in early 2007, just as the first cracks of the bursting housing and credit bubble were becoming visible, one of the primary harbingers of impending doom was banks slowly but surely yanking availability (aka dry powder) under secured revolving credit facilities to companies across America. This, in effect, was the first snowflake in what would ultimately become the lack of liquidity avalanche that swept away AIG and unleashed the biggest bailout of capitalism in history. Back then, analysts had a pet name for banks calling CFOs and telling them "so sorry, but your secured credit availability has been cut by 50%, 75% or worse" - revolver raids. Well, the infamous revolver raids are back.

 
Tyler Durden's picture

The Economic Wall Dead Ahead Is Hidden Behind False Signs Of "Recovery"





This morning I had left the TV mistakenly tuned to CNBC with the sound on - and unavoidably caught another bullish strategist jawing about the US economy’s awesome strength. This one was peddling as exhibit #1 the recent surge in C&I loans, arguing that it is a sure sign that business is gearing up for a post-winter boom. In this case, like most of the blizzard of bullish factoids spewed out each day on bubble vision, the purported business lending boom is not all that.

 
Tyler Durden's picture

AIG Lite: Margin Call Claimed First Foreign Casualty Of Austrian "Black Swan"





While we wait to see which “well capitalized” bank will be the next to crumble under the weight of mountainous writedowns occasioned by the sudden souring of “riskless” assets, we get to read the DuesselHyp post-mortem, which shows that the bank was effectively AIG’d by Eurex.

 
Tyler Durden's picture

Four TBTF Banks Threaten To Withhold Funds To Democrats Over Elizabeth Warren's Wall Street Rants





Having already proven that their institutions are above the law in the aftermath of the financial crisis, executives at the “Too Big to Fail and Jail” banks have decided it’s time to teach Senate Democrats a lesson. Not being content with trillions in taxpayer backed bailouts to protect and further consolidate virtually all wealth within their oligarch fiefdoms, these bankers are irate at the notion that a commoner would dare criticize their unassailable crony privilege. What Wall Street wants is one hundred Chucky Schumers in the Senate.

 
Tyler Durden's picture

How The Fed Has Failed The Nation (In One Chart)





There is only one way to end the financial tyranny of the Federal Reserve--abolish it, and put an end to the predatory pathologies of its policies...

 
Tyler Durden's picture

Frontrunning: March 31





  • Iran, powers push for nuclear deal as clock ticks toward deadline (Reuters)
  • How DIY Bond Traders Displaced Wall Street’s Hot Shots (BBG)
  • MillerCoors Caught in a Downdraft (WSJ)
  • Saudi-led strikes again hit Yemen overnight (Reuters)
  • Even With Free Money, Merkel Still Reluctant to Spend (BBG)
  • Britain Uses Tax Breaks to Lure Digital-Game Developers (WSJ)
  • China to Insure Deposits in Move Toward Scrapping Rate Curbs (BBG)
  • As China Expands Its Navy, the U.S. Grows Wary (WSJ)
 
Tyler Durden's picture

Lynn Tilton Charged By SEC For CLO Fraud, As Warned Here Nearly Two Years Ago





Back in September 2013 we wrote "Coming Soon To A Theater Near You: MBIA's $1 Billion World War Z" in which we explained why MBIA will soon have a substantial problem (amounting to just about around $600 million) with several CLOs which we dubbed "Zombie CLOs" or as they were actually known, Zohar, on which it had written insurance, and which would become evident sooner or later once someone took a long, hard look at the collateral manager of the CLOs, namely Lynn Tilton's Patriarch Partners. Well, finally someone did take a long, hard look and today, our warning comes full circle following a shocker out of the SEC accusing Lynn Tilton of fraud and of "hiding the poor performance of loan assets in three collateralized loan obligation (CLO) funds they manage."

 
Tyler Durden's picture

Frontrunning: March 26





  • Saudi Arabia, allies launch air strikes in Yemen against Houthi fighters (Reuters)
  • Pilot on Crashed Jet Was Locked Out of Cockpit, NY Times Says (BBG)
  • Why Bombing This Tiny Oil Producer Is Roiling the Energy Market (BBG)
  • U.S.-led coalition, Iraqis pound Islamic State in Tikrit (Reuters)
  • Munger Says Prepare for Harder World as Buying Power Slides (BBG),Mocks Greek ‘Idiotic Idea’ You Can Vote Yourself Rich (BBG)
  • The Central Banker Who Saved the Russian Economy From the Abyss (BBG)
  • Bank of Canada says foreign buyers complicate housing market (Reuters)
  • Investors Scoop Up Companies’ Bonds (WSJ)
  • Espirito Santo Probe Turns Mariana Mortagua Into Portuguese Star (BBG)
 
Tyler Durden's picture

Without Buyback Back Up, Futures Fail To Find Fizzle





After three days of unexpected market weakness without an apparent cause, especially since after 7 years of conditioning, the algos have been habituated to buy on both good and bad news, overnight futures are getting weary, and futures are barely up, at least before this morning's transitory FX-driven stop hunt higher. Whether this is due to the previously noted "blackout period" for stock buybacks which started a few days ago and continues until the first week of May is unclear, but should the recent "dramatic" stock weakness persist, expect Bullard to once again flip flop and suggesting it is clearly time to hike rates, as long as the S&P does not drop more than 5%. In that case, QE4 is clearly warranted.

 
Reggie Middleton's picture

Benchmarking $666M of Venture Capital Investments In the Crypto-currency Space





The $665 Million Evolution in a Space Nobody Respected a Year Ago - Already Outpacing the Internet Circa 1994

 
Tyler Durden's picture

Clinton Foundation’s Deep Financial Ties to Ukrainian Oligarch Revealed





When I first came across the title to this article, I didn’t think much of it. In fact, I almost didn’t even click the link thinking it was just a repeat of a prior expose I highlighted in the post: Hillary Clinton Exposed Part 2 – Clinton Foundation Took Millions From Countries That Also Fund ISIS. Fortunately, I did decide to take a look and pretty soon my jaw absolutely hit the floor. Although the Wall Street Journal didn’t play up the connection, I was stunned to see that of all the oligarchs connected to foreign governments who donated to the Clinton Foundation while she was Secretary of State, Ukraine was at the very top.

 

 
Tyler Durden's picture

Caught on Hot Mic – Janet Napolitano Says “We Don’t Have to Listen to This Crap”





University of California President Janet Napolitano wants students' voices to be heard — unless it means "listening to their crap."

 
Tyler Durden's picture

Frontrunning: March 17





  • Israelis vote as 'King Bibi's' reign hangs in the balance (Reuters), Factbox: Main candidates in Israel's election (Reuters)
  • Iran Can Add Million Barrels a Day of Oil If Sanctions Halt (BBG)
  • Kremlin rules out handing back Crimea to Ukraine (Reuters)
  • Saudi Arabia Needs More Oil to Feed Local Refinery Expansion (BBG)
  • How Lafarge’s CEO Went From Holcim Merger Architect to Obstacle (BBG)
  • When Yellen Gets Less Predictable She’s Getting Back to Normal (BBG)
  • Iran nuclear talks intensify as sides face tough issues (Reuters)
  • Debunking $1.4 Trillion Europe Debt Myth in Post-Heta Age (BBG)
 
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