(This article appears courtesy of International Financial Law Review, sign up for a free trial on their site)
Sam Jones
IFLR staff writer
“Markets can remain irrational longer than you can remain solvent,” said economist John Maynard Keynes. The current debt market, some might have you believe, is both recklessly irrational and remarkably solvent. In fact, it’s the solvency that’s making things irrational.
“Welcome to the fin-de-siècle mood that is gripping high finance,” editorialized the Financial Times in late May. “Buddy, just hand over that dime,” said the Economist.
The financial press has pulled no punches in its coverage of the private-equity led M&A boom.
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