Interest Rate Roundup

Wednesday, December 06, 2006

Private equity insanity

In the "You gotta be kidding me" department, CNBC just reported on air that Deere (market cap $22.6 billion) has been rumored to be a private equity target. Same with Barnes & Noble. Only a few days ago, the New York Post suggested Home Depot could be the target of a $100 billion leveraged buyout.

Excuse me for saying so, but this is completely nuts. We have too many investment bankers with too much time on their hands, if you ask me. And yes, this is yet another indication the Fed's "tight money" campaign has utterly failed. There's still way too much "Money, Money Everywhere!"


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