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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: stan_hughes who wrote (82792)	6/17/2007 5:10:43 PM
From: George K.	Read Replies (2) of 110194

Mario Gabelli in Barron's Roundtable sounded a similar alarm on private equity targets. He thinks the weakest covenant lite targets can go maybe 2 years of stress then the garbage surfaces - 2009 or 2010. He pointed to another item being discussed in public corp. boardrooms -- why should we bother maintaining triple A debt ratings if private equity guys can buy us out and run eight times the debt? Yikes.

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