Merchants of Debt: KKR and the Mortgaging of American Business

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Beard Books, 2002 - Business & Economics - 364 pages
2 Reviews
First published in 1992 (by Basic Books), this reprint is timely now in the wake of Enron and WorldCom. Anders tells the story of how Kohlberg Kravis Roberts (KKR) took advantage of Wall Street's tolerance of debt to finagle massive corporate takeovers of companies that included Safeway, Drexel, and
 

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Merchants of debt: KKR and the mortgaging of American business

User Review  - Not Available - Book Verdict

Kohlberg Kravis Roberts & Co. (KKR) was founded in New York in 1976 by three enterprising investment bankers, Jerry Kohlberg, George Kravis, and George Roberts, with the simple purpose of assisting ... Read full review

Review: Merchants of Debt: KKR and the Mortgaging of American Business

User Review  - Goodreads

Interesting reading on near-callous use of debt in the 1980s, especially in light of the current economic melt-down of 2007 & 2008, ie, Bear, Stearns and CIT, just to name the ones collapsing in the past 7 days. Read full review

Selected pages

Contents

Courting CEOs
1
The Growing Allure of Debt
19
In Pursuit of Profits
42
How to Talk to Banks
60
The Enchanting World of Drexel
82
The Takeover Minstrels
109
The Mentors Fall
133
Ruling an Industrial Empire
156
We Dont Have Any Friends
214
Credit Crunch
232
Fear Humbling and Survival
250
Debt Is Out Equity Is In
272
KKRs Buyouts
285
Notes
295
Index
319
Epilogue
329

The Discipline of Debt
176
Cashing Out
194

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About the author (2002)

George Anders is the West Coast bureau chief of Fast Company magazine. He previously spent two decades as a writer and editor at The Wall Street Journal. While there, he was part of a seven-person reporting team that won the Pulitzer prize for national reporting in 1997. He is a graduate of Stanford University, and has also authored a critical analysis of the HMO industry.

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