No wonder nobody wants Tribune

Ever wonder what those rich private equity folks are really thinking? Well, a memo from Carlyle Group founder William Conway is making the financial media rounds (most likely leaked) in which he warns that the cheap debt PE firms have been using to fuel all those deals is about to disappear. "The longer it lasts, the worse it will be when it ends." Conway said. "Frankly, there is so much liquidity in the world financial system, that lenders are making very risky credit decisions. This debt has enabled us to do transactions that were previously unimaginable, and has resulted in generally higher exit multiples than entry multiples." Consider yourself warned. Dailyii.com