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Cory’s Chart Corner
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More marked-to-fantasy credits hit the windshield.
h/t @NickNemo17Thoma Bravo turned in the key on Medallia.
$6.4B of equity wiped.
It now carries $3B in debt against $200M of EBITDA.
Blackstone had $1.5b of the debt across their nearly identical retail facing credit funds marked it most recently at 60.3c.
It's now a zero. Credit
Daily Archives: September 4, 2014
The coming bust of the ‘invincible stimulus bubble’
Much bated breath over the latest announcements from the tool-bare European Central Bank this morning. The ‘Great Draghi’ revealed that they will try yet another iteration of cutting practically nil rates to even more nil and buying up even more … Continue reading
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Payday loans gone wild
A sign of our times: everywhere we look today we see different payday loan shops. These shops cater to the droves of increasingly desperate people looking to cover cash flow shortfalls and agreeing to pay immoral, enslaving interest rates as … Continue reading
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The undermining of democracy: effective power no longer elected power
Admit, repent, reform, recover… Martin Wolf talks about his new book ‘The Shifts and the Shocks’, what has been learned from the financial crisis, and how elites can regain credibility in the wake of the crisis. Here is a direct … Continue reading
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