How to stay off the implode-o-meter
The Financial Times has been writing about the end of the credit crisis this week, saying that BlackRock's $15 billion deal to buy a portfolio of distressed subprime mortgage debt from UBS, for 75 cents on the dollar, shows things are picking up.
Also, Deutsche and Citi have sold $20 billion of similar debt products to private equity houses such as Blackstone, Apollo and TPG recently.
Add to this that the US private-equity firm, Cerberus Capital, are quoted as saying: "The banks need to unload their inventory or they cannot do deals. The market has started to move and we have bought quite a few of the loans", and might all of this be pointing to the end of the bad times?
Are the good times coming back?
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