peHUB Second Opinion 9.15.08
The Sky Is Falling Edition The Deal Professor: One of the few rational takes on the day’s events. Deal Professor offers a bittersweet list of lessons learned. Like John McCain, he agrees that “the sky is not falling” (see #7). FT: A slightly harsher take on the reason for black Sunday from FT's Avinash Persuad. Dealbook: Don’t rule out a Neuberger sale yet, kids. Bain, KKR, CD&R and Hellman & Friedman are all still in talks for the busted bank’s investment management division. Dealbook: Why old fashioned advisory suddenly looks appealing. Worth quoting, Teitelman writes: When we have the time to look back at the last decade or so, we may well see two new trends: the slow unseating of Wall Street investment banks at the hands of institutions with bank pedigrees and regulatory oversight; and the creation of a parallel universe of firms, many private -- some of whom, particularly the hedge funds -- were active in the speculative pressures that took Bear, Lehman and Merrill off the table. Dealscape: Wall Street’s woes extend to Jersey, too.
