It's a rough day for private equity. Carlyle is having a "crisis talk" with its investors because of the implosion of one of its debt funds.
Oh, and the Blackstone Group LP (NYSE: BX) announced its earnings report. There was a net loss of $170 million, which compares to a net gain of $1.18 billion in the same period a year ago. Unfortunately, the firm has little visibility as to when things will improve.
Simply put, Wall Street is not only concerned about the credit crunch – which means that fewer deals will get done – but also the stability of prior transactions. In other words, will some of them unwind and plunge into bankruptcy?
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For a quick-read on the U.S. economy, check the price of gasoline
