peHUB Second Opinion 4.5

Bankruptcy Sleuths Find Cash in Trader Receipts for Lap Dancers: “I call it leverage gone wild,” Grede says. (Bloomberg)

Bondholders The New Activist Shareholders: The trouble with coercive debt exchanges. (Dealscape)

CNBC=Cranky Nasty Business Correspondent: In which Rick Santelli tells Steve Liesman he “sounds like Richard Nixon.”

Drought: Dan mentioned this earlier today, but failed to highlight in the FT report the part that says the firm considered more than 140 LBO deals and agreed to zero. “Cautiously optimistic” anyone? (FT)

Stranded at the Alter: With walk-away deals, what’s the best way to deal? (Deal Professor)

Bears: Nouriel Roubini’s op-ed in the Journal today says we shouldn’t believe the stress tests. (WSJ)

Shoot The Banker: “A website called Shoot The Banker will allow you to fire a paintball gun at someone dressed up as a banker (but is probably just an out-of-work comedian).” (Cityfile)

Felix Salmon: Why asset managers should ignore credit ratings. (Reuters)

Hedge Funds Going Into Private Equity? Here’s one. (Hedgeweek)

Out: Madison Dearborn’s CFO. (Chicago Business)

Contrary: This guy has bad things to say about the way entrepreneur sales to private equity firms turn out. (NAPL)

Well: The Swine Flu is not scary anymore. See, now we can all laugh about it. Here’s a mean infographic for just that purpose.