Calvin Trillin: Smart guys caused the financial collapse. “When the smart guys started this business of securitizing things that didn’t even exist in the first place, who was running the firms they worked for? Our guys! The lower third of the class!” (NYT)
RIP: Bruce Wasserstein has died. (WSJ)
Taking Credit: David Rubenstein admits that private equity played a role in the crisis. Easy to say now that, according to him, private equity is “back.” (WaPo)
Just for Fun: Anyone out there need a chart intervention? (Economix)
Just so you know: Anthropologists (one, at least) think the modern man is a wimp. “Any Neanderthal woman could have beaten former bodybuilder and current California governor Arnold Schwarzenegger in an arm wrestle.” (Reuters)
Thanks Obama: According to a new study, America has jumped eight spots to the number one most admired country since Obama’s taking office. (GFK)
PE-Backed IPOs: Peter Kaufman, president of the investment bank Gordian Group LLC, says PE firms are looking for exits and the stock market rally has made IPOs an attractive option. What’s not clear is whether the investors are ready for the highly leveraged portfolio companies that PE firms may be shopping.