Carlyle Group goes broke

[PattyLee loves dogs]

http://www.lewrockwell.com/rozeff/rozeff198.html

Of course they'll try to get a government bailout, but it's funny watching them flounder. We are truly ruled by idiots.

[David]

How does an organization that prolly gets every inside scoop of likely gov't action and can thus plan around it, go virtually broke?   

[malcolm]

How does an organization that prolly gets every inside scoop of likely gov't action and can thus plan around it, go virtually broke?   

Because those "inside scoops" aren't worth squat!  It's not what you don't know that will bankrupt you; it's what you think you know, but that just ain't true.

I have to admit to a but of healthy schadenfreude when I read about Carlyle Group's plight.

[John Edward Mercier]

The government allowed the debt load to overcome the income expectation. All levels of government tend to over project future incomes. Even in the worst of economic times, with no underlying data, they will predict future growth.

[BaneOfTheBeast]

I'm sure whatever they lost in mortgage-backed securities, they'll make up for in Aerospace + Defense 

[malcolm]

I'm sure whatever they lost in mortgage-backed securities, they'll make up for in Aerospace + Defense 

That would be a neat trick if they could do it.  These were heavily leveraged investments.  They actually lost more money than they invested.

[BaneOfTheBeast]

All they have to do is get that little war with Iran off the ground and WHAMMO! They'll be back in business.

[John Edward Mercier]

Iran will take Iraq as a province sometime in the near future.