The economy is apparently getting so bad that the super-rich, ultra-powerful are even feeling the pinch. The Carlyle Group (yes, that Carlyle Group) has a financing division that is billions in debt. Ooops.
[Excerpt]
Carlyle Fund's Assets Seized
A publicly traded affiliate of the Carlyle Group said yesterday that lenders were seizing its assets, sending the fund, Carlyle Capital, into insolvency.
The collapse of Carlyle Capital is the first time a Carlyle Group fund has failed and is a stinging embarrassment for the District private-equity powerhouse, which has built an international reputation with a client list that reaches around the world. . .
The collapse of Carlyle Capital is the first time a Carlyle Group fund has failed and is a stinging embarrassment for the District private-equity powerhouse, which has built an international reputation with a client list that reaches around the world. . .
Read more at: Washington Post
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