It would be difficult to sell it with their most recent period, which is a horrible result. Goldman Sachs is probably saying that this would be a tough story to tell on the road when you have a declining business, when the other investment banks are posting record numbers.
More Quotes from Ben Holmes:
While every other bank on the street was setting record numbers in their investment banking fees, their MA (merger and acquisition) activity and their brokerage activity, these guys were losing money.Ben Holmes
I would have liked to have seen more of the proceeds go to reducing their debt load.
Ben Holmes
Personally, I think this stinks, ... No one had chance to review this. They owe it to investors on the IPO to have an opportunity to review these details so that they can go forward with the investment.
Ben Holmes
What's notable, just looking at the list, is the complete diversity in the names. We've got the whole range.
Ben Holmes
They had two price reductions and a size reduction, ... It's like watching a fighter go down and then kicking him a few times.
Ben Holmes
Kraft is the big monster. That's the kind of deal that comes along only once in a while.
Ben Holmes
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