Banks often end up with assets that you would not expect. It’s a phenomenon that is clearly on the rise as borrowers struggle to pay back their loans.
Perhaps the most famous example is Deutsche Bank’s ownership of Las Vegas joint The Cosmopolitan, which has prompted endless jokes about its exposure to casino banking.
Some of these holdings can be surprisingly successful. For example, Goldman Sachs Capital Partners owns a 66% stake in Alliance Films, which in turn owns Momentum Films – the production company that financed last year’s all-conquering, Oscar-laden release The King’s Speech.
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