Sunday, January 22, 2012

Vulture Capitalist Uber Alles.


The madness of the 'unwinding', from Bloomberg News, by way of the incomparable Yves Smith:

Lehman Brothers Holdings Inc. (LEHMQ) has paid more than $500 million in fees to restructuring firm Alvarez & Marsal LLC in 39 1/2 months, according to a court filing.

The firm, whose co-founder Bryan Marsal runs the defunct investment bank, charged $504.2 million through December for “interim management,” including $8 million last month, according to the filing with the U.S. Securities and Exchange Commission...

Job creators my arse.


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