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| Subject: I heard or read somewhere that Carlyle moved their HQ to thier Dubai office? | |
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Author: Stephen |
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Date Posted: 19:44:31 03/10/08 Mon In reply to: jw 's message, "Read it and smile!!!!" on 09:06:45 03/10/08 Mon http://www.turkishdailynews.com.tr/article.php?enewsid=59610 One wonders if they are running for cover or what. Also, can't help but notice that stock markets and bonds both declined over 1% today, Monday, and not a word on the news about it. >Looks like our good friends at the carlyle group are >in some financial hot water. I checked wikipedia on >carlyle group, it is claimed they have 75 billion in >assets, liquidation of 16 billion should give dick >chaney a pin prick. > > Send in the arab and chinese clowns! > >Carlyle Tries to Hold Off Lenders >By JANE WARDELL – 2 hours ago > >LONDON (AP) — Carlyle Capital Corp. Ltd is in talks >with creditors to prevent the liquidation of some $16 >billion in securities, the listed mortgage-bond fund >said Monday. > >Carlyle Capital shook financial markets last week >after missing margin calls from banks on its $21.7 >billion portfolio of residential mortgage-backed >bonds. It said some $5 billion in securities held as >collateral may have already been sold. > >The fund, an affiliate of the U.S.-based private >equity firm Carlyle Group, warned that if it fails to >reach an agreement with remaining lenders, all of its >securities may be liquidated. > >"While these talks continue, the company has discussed >and requested a standstill agreement whereby its >lenders would refrain from foreclosing and liquidating >their collateral, and we are awaiting responses," the >fund said in a statement. > >The trouble at Carlyle Capital has raised fears that >their assets will flood the market, further depressing >prices on fixed-income securities. The securities have >dropped sharply in recent weeks as banks pull back on >lending to funds and investment vehicles, leading to >forced asset sales. > >Shares in the fund, which trade on Euronext Amsterdam, >were suspended Friday. The stock fell nearly 60 >percent to $5 Thursday when Carlyle Capital revealed >it had failed to meet margin calls with four banks the >day before. > >Shares will not be reactivated until Dutch stock >markets watchdog AFM receives more information from >Carlyle Capital, said Paul van Dijk, a spokesman for >the regulator. > >On Monday, Carlyle Capital said it had received more >than $400 million in margin calls. > >The company leveraged its $670 million equity 32 times >to finance a $21.7 billion portfolio of AAA-rated >residential mortgage-backed securities issued by U.S. >housing agencies Freddie Mac and Fannie Mae. > >To do this, it enters into repurchase agreements with >banks, in which it posts the mortgage securities as >collateral in exchange for cash. > >If the value of the security held as collateral falls, >the lender has the right to ask for more collateral — >a "margin call" — to secure the loan. If the borrower >does not meet the margin call, the lender may sell the >security. > >"Due to recent turmoil in the market for >mortgage-backed securities, the company's lenders have >significantly reduced the amount they are willing to >lend against the company's portfolio," Carlyle Capital >on Monday. > >The fund is managed by a unit of Washington, >D.C.-based Carlyle Group, which is one of the world's >largest private-equity firms with $76 billion in >assets under management. > >Initially launched as a private fund in 2006, it was >floated on Euronext Amsterdam last July, selling >shares at $19 each. > >Within weeks of the listing, it was forced to tap >Carlyle Group for $200 million in emergency funding >and sold a $900 million loan portfolio at a loss to >help meet margin calls. > >AP Business Writer Toby Sterling in Amsterdam >contributed to this report. > > >>Thank you for taking the time to clarify this for me. >>I know you know this stuff. >> >>Good luck in the future. Something tells me we can all >>use a little luck right now. >> >>> One of the scariest bits of news is that food >>>supplies are extremely low now, as your article says, >>>wheat supplies are the lowest level in 60 years, and >>>there were several billion fewer mouths to feed >then, >>>also china was not converting from a largely plant >>>based diet to mc donnalds cheese burgers. There are >>>also other reasons for the run up in all commodities, >>>the collapse of the dollar has an exagerated effect >on >>>commodities prices, along with the lack of decent >>>investment opportunities. Because stock markets are >>>failing, real estate is failing, and the US >government >>>is keeping interest rates artificially low, well >below >>>the rate of inflation, "money" is driving up the cost >>>of commodities. Rich people and institutions know >>>that people must consume commodities, so just like >>>they threw their money at stocks and real estate and >>>created bubbles, today they throw their money at >>>commodities and create another bubble, they become >>>rich and we all suffer. When there was a stock >market >>>bubble in the 90's, it generally did not hurt the >>>average person. The real estate bubble hurt many >>>people who needed to buy homes, they were forced to >>>buy homes at artificially high prices because instead >>>of america building a real economy, greenspan and >bush >>>perpetuated a real estate bubble to keep the economy >>>growing for a few more years. now that the real >>>estate bubble has popped, the commodities bubble is >>>hurting everyone (except those who trade it), >>>inflation is surging (except for workers wages, of >>>course), and our economy is collapsing. >>> >>> Notice that every time the fed indicates it will >>>lower interest rates or does, commodities prices >surge >>>higher, and have reached staggering hieghts. The fed >>>is not solving the real estate problem because so >many >>>americans do not have the financial means anymore to >>>buy homes even with the artificially low interest >>>rates the fed offers, but the fed hurts everyone with >>>the extraordinary high inflation, they are causing >our >>>economy to collapse. >>> >>> >>> There are some thing government can do to ease the >>>current crisis. First, raise the interest rates back >>>to where they were last spring, and commodities >prices >>>will correct rapidly, it will save us alot of money. >>>Second, postpone the ethonal fuel program except for >>>use as a clean air additive, to replace mtbe. Third, >>>the government should help homeowners with sub-prime >>>mortgages who have a generally good record of >payments >>>get regular mortgages, which will keep their rates >low >>>even with rising interest rates. If the banks do not >>>want to give these people prime loans, the government >>>should give it to them, they have proven there >ability >>>to make the payments, there is no reason they should >>>be locked into very high interest rates anymore, and >>>it could save our economy. I would also add to this >>>that the government should rapidly accelerate and >>>increase various energy efficiency laws that were >>>recently passed, which would guarentee significant >>>reduction in our consumption of imported oil in the >>>comming decade. >>> >>> Here in new york city, we used to be able to watch >>>100 baseball games a year on free television for each >>>team, mets and yankees. Over the years, the cable >>>companies bought the rights to the games, and now >>>there are almost no baseball games broadcast on free >>>television. Why do we now have to pay for baseball >>>games we used to get for free? The cable companies >>>knew that they could buy the rights to the games and >>>charge us money, and the sports "fanatics" would pay >>>for what they used to get for free. The question is, >>>why do people willingly pay for something that they >>>used to get for free? Because they have no back >bone, >>>they are not willing to fight back, that's why there >>>are called sports "fanatics", or fans, because they >>>will sacrifice everything for their team. >>> >>> The same consumer fanaticism of the baseball fan >>>exists in all areas of the economy. Americans >believe >>>in predetory capitalism, until they see their world >>>collapsing, as it is now. We spend increasing >amounts >>>of money to maintain our lifestyle, we refuse to >>>change our ways, and we refuse to use the facilities >>>of government to remedy the failures of our predetory >>>capitalist system. The economic collapse is going to >>>be very interesting in this election year. One big >>>difference between 29' and now is that 29 was after >an >>>election, this time we can change the government as >>>the crash gets underway. >>> >>> Keep an eye on the storage levels of grains, there >>>is a very high potential for spring flooding in the >>>mid west this year, there are some similarities to >the >>>way the 1993 event began, if we have major crop >>>failures in the midwest now we will be in for a very >>>rough time. >>> >>> For excellent commentary on the current situation, >>>listen to the tom hartman show on air america, this >>>guy really understands what is going on, and what >>>affects us, he exposes the lies of the economic >>>cheerleaders. >>> >>> >>>>Why the price of wheat has doubled in the last >>month? >>>> >>>> >>>>href="http://www.csmonitor.com/2008/0227/p01s05-usec >. >>h >>>t >>>>ml">http://www.csmonitor.com/2008/0227/p01s05-usec.h >t >>m >>>l >>>> >>>> >>>>Of course with the increased oil cost going through >>>>the cealing, corporate takeover of agriculture, and >>>>the price of wheat doubling, people will be going >>>>hungry in America. >>>> >>>>The NY Time also said that the county has lost >>>>somthing like 4.5 million jobs since Bush took >>office? >>>>Does that seem right? That's over 2% of te labor >>>>force! >>>> >>>>>The powers that be are trying to scapegoat the >>>>>sub-prime crises, but oil and general inflation are >>a >>>>>much bigger problem, most of us do not have sub >>prime >>>>>mortgages. Every time the fed lowers interest >>rates, >>>>>the price of oil and other commodities surges, they >>>>>are fueling inflation like crazy, and accelerating >>>the >>>>>collapse of the american economy, bush is fiddling >>>>>while america's economy collapses. >>>>> >>>>> It is a shame that someone like mc cain got lost >>>in >>>>>the republican party, he seems to be a generally >>>>>honorable man, but we need to recover from the >>>>>catastrophe the republicans have made in the last 7 >>>>>years, mc cain is not the man for that job. >>>>> >>>>> Btw, the dollar is approaching a 50% loss in >>value >>>>>against the euro, such a collapse in the value of a >>>>>currency is typical of a third world country! >>>>> >>>>>>Ya, and McCain getting Bush's endorsement was the >>>>kiss >>>>>>of death. >>>>>> >>>>>>I think people have pretty much figured this out >>>>>>already. That is why McCain is already a lame >dog. >>>>>> >>>>>> >>>>>>>A dem, of course. So there's a second >>consolation; >>>>>>>it's gonna be hung squarely around bush's neck >>>where >>>>>>>it belongs. >>>>>>> >>>>>>>>I think the Bush rape of the US economy has >>>reached >>>>>>>>the breaking point. >>>>>>>> >>>>>>>>The only consolation is that we saw this coming. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
