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Austin Powers

Your choice of photographs cracks me up!!

BTW, did you see that Going Private blog has shut down? You must be the longest tenure 100% private equity blogger out there now. Hope you keep writing.



Perversely, if a bank has a number of loans to various companies in a given industry or sector, I wonder if there can be an advantage in being the first company to be sent to the bad bank. I think the willingness of a bank to work out a loan may be higher before they've seen a sector fall to bits than after. Also, the further through the cycle the bank is, the more depleted their capital reserves will be and the more trigger-happy they will be to just get their money back (assuming of course that the assets of the company can be sold to achieve this).

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