Hello monkeys,
This article on Deal Breaker is gold : Goldman Got Bored One Day And Decided To Dominate The Leveraged Loan Market
One spot stuck out: leveraged lending. Sure, it entailed more risk, and regulators had already wagged a finger at big banks eager to mop up easy money from desperately over-leveraged private companies. But the logic of “fuck it, we’re Goldman” is undeniable. So was GS Mezzanine Partners VI LP born.
Big props to Goldman even though US regulators faulted Wall Street banks for “serious deficiencies” in loans that back corporate buyout deals, once again raising concerns about the industry’s involvement in the lucrative lending market.
Now, they're the "top underwriter of U.S. leveraged loans sold to institutional investors"
What do you guys think??
I don't really care about the implications of it but crushing things beneath shifting butt cheeks sounds fun.
As the article says, Goldman went from #5 to #1 by gaining 2% additional share. That isn't that big of a deal. 8-9% market share is not "dominating" any industry. If this wasn't Goldman then the article probably doesn't even get written.
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