“I think it’s difficult for anyone to understand the place. But we learned a lot about the best way to make the most of the good parts and understand the parts that work differently”
J Christopher Flowers recalls the buyout of LTCB
“In the early 2000s, it was all about how to deal with non-performing loans, capital raising and building a healthier balance sheet. Most companies are well capitalized now”
“Anyone that tells you there won’t be a bunch of ABS trusts that will be stressed in the next cycle simply isn’t paying attention”
“You really do have to ask what is the point of paying a big premium for what may be yesterday’s model”
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