Via The Smoking Argus Daily (excellent site!)
and WTF is The Carlyle Group up to?
Carlyle Senses a Profit in Toxic Bank Assets
Carlyle Group, a giant private-equity firm, has raised around $1 billion and hopes to add $2 billion more for investments in financial institutions that come up for sale under President Obama's economic rescue plan, according to people familiar with the company's plans.
Seeking to jump-start the economy, Treasury Secretary Timothy F. Geithner last week said he will seek private-sector help for the banks, offering loans at favorable rates and putting up government backing to reduce the risks to investors like Carlyle.
WTF???? I'd sense a profit too if someone had my back and reduced all my risk. WTF??? Kinda like the deal Fannie and Freddie got from the gubmint and then gave to all their "big bank borrowers" -- PISS ME OFF
I guess RISK (for the big boys that is) no longer means under financial or legal obligation, to be held responsible...