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history and the largest bank to collapse since 2008. Why bank regulations , including those passed after the 2008 financial crisis, failed to prevent this. If you’re familiar with bank accounting, valuation, and regulatory capital (i.e., It’s the second-biggest bank failure in U.S. Who deserves the blame.
it’s starting to feel a lot like 2008. Before this deal, I had expected that “CS First Boston” would become another elite boutique and a strong competitor to the likes of Evercore, Lazard, and Moelis. In 2008, some banks rescinded internships and full-time jobs, so it’s safest to assume that will happen again. Klein & Co.
Others would counter that growth equity’s rapid ascent was mostly due to the easy money that persisted between 2008 and 2021. Valuations are high, the returns depend on future growth, and deals are for primary capital , i.e., new cash the business needs. Also, you can get in more easily from a middle-market or boutique bank.
2008 – 2009 or 2022 – 2023), the percentage may be even higher. All the large investment banks – bulge brackets , elite boutiques , and middle-market firms – use internships as a recruiting tool for Analysts and Associates. No Return Offer” Policy – Some boutique banks hire interns but never plan to bring them back full-time.
Secondary Transactions: If there’s a “secondary transaction,” i.e., an existing investor sells its stake in the fund, the fund must get a Fairness Opinion or valuation opinion to demonstrate that the price and terms are reasonable. The private equity and hedge fund industries have sued the SEC to block these rules , but I doubt they will win.
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