Thursday, July 5, 2007

TIAA-CREF, which oversees $414 billion in retirement funds for teachers and college professors, is boycotting some debt offerings used to finance LBOs. Who can you bloody trust these days, not evern your own granny especially if she is Japanese

LBO Debt Alarms Fidelity, Lehman, TIAA-CREF Managers

The world's biggest bondholders have had their fill of leveraged buyouts, convinced that increasing mortgage delinquencies will drag down the U.S. economy and drive debt-laden companies into default.

Posted by worried @ 12:16 PM (313 views)
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