Tim Catts
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Rules for private-equity firms buying failed banks to get vote next week
Will the U.S. retreat from new rules that would make it harder for private-equity firms and hedge funds to buy failed banks? From Kohlberg Kravis & Roberts and Blackstone to Wilbur Ross and John Paulson, private investors have been pushing back against the changes, saying they're too onerous. If they become the law of the land, it'll become harder to find buyers for banks gone bust, they say.
Whether their complaints were effective will become clear next week, when the Federal Deposit Insurance Corp. plans to vote on the rules, it said today.
Continue reading Rules for private-equity firms buying failed banks to get vote next week
KKR, Blackstone add their two cents on new bank-buying rules
It looks like Wilbur Ross and John Paulson have some company.
Ross, who runs the private equity shop W.L. Ross & Co., and Paulson, the chief executive of hedge fund manager Paulson & Co., oppose new rules under discussion in Washington that would make it harder for firms like theirs to buy failed banks.
Now, as the window for public comment on the proposed changes closes, KKR and the Blackstone Group (NYSE: BX), two of the biggest private equity firms, say they too would probably be discouraged by the new rules from buying failed banks after they've been seized by the government.
Continue reading KKR, Blackstone add their two cents on new bank-buying rules
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