Quotes of the Month
"In 1994 banks held 70% of all loans. That's now dropped to 29%. Institutional investors now hold 64% of loans. That's not syndicated lending, it's capital markets. They need to change the name."
-Larry Fink, CEO of Blackrock, one of the most influential fixed-income real money managers, with $400 billion in assets, at the American Securitization Forum in New York in June
"Capitalism is worse than Count Dracula, Frankenstein, the Boston Strangler and Jack the Ripper combined"
-President Hugo Chávez makes yet another pitch to attract foreign investors to Venezuela
"It's a rationalization of our US business which, when you get right down to it, does not have much functional difference."
-ABN Amro's US DCM head, Peter O'Malley, after the bank sacked all but one of its high-grade bond traders in New York, shut down its research group, shaved about 500 borrowers off its DCM coverage and handed the business down to its subsidiary, LaSalle