O'Reilly logo

The Financial Crisis in Perspective (Collection) by Mark Zandi, Satyajit Das, John Authers

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

9. Learning to Love Debt

Financial alchemy took the form of more and more borrowing, initially in the form of private equity and junk bonds. Private equity, originally called leveraged buyouts (LBO), was about high levels of leverage—debt. Investors, financial sponsors, committed a small amount of the capital required to buy a company. The bulk was borrowed and repaid from the cash flow of the acquired business. The game was buying low and selling high, with other people’s money.

Fixed Floor Coverings

Congoleum traced its origins back to the American Nairn Linoleum Company, established in 1887 in Kearny, New Jersey. The company manufactured linoleum, a durable floor covering made from solidified linseed oil, pine rosin, ground cork dust, wood ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required