peHUB Second Opinion 9.4

Take comfort this Labor Day in knowing the pressure to have fun this summer is finally overHappy Labor Day Weekend!

Behind KKR’s Ugly Real Estate Bet: “As part of its restructuring, Warren Buffett is doing a dance on Capmark’s grave.” (DealJournal)

Private Equity Waits Out the Feds: More problem banks and less FDIC money mean tough takeover rules could eventually be loosened. (BusinessWeek)

Speaking of KKR: The firm was poised to earn a return on the sale of Sun Microsystems to Oracle, but anti-trust concerns have made that less likely. But Deal Journal believes Europe will not block the deal. (DJ)

The Gates Are Down: Well, the bad news for Cerberus continues. The firm has apparently barred investors in two new hedge funds from withdrawing money for three years. (FT)

Certain To Anger: New data shows that the top five executives at each of the 20 banks that accepted the most federal bailout dollars “averaged $32 million a piece in personal compensation from 2006 through 2008, according to the findings of the 16th annual Institute for Policy Studies’ “Executive Excess” report.” (Daily Finance) Those bankers also made more than CEOs of S&P 500 companies. (Bloomberg)

The Oracle of Omaha Blinks! “It may have only been about two percent of his holdings in the rating agency, but Warren Buffett’s decision to pare back his stake of Moody’s smacks of capitulation after a Manhattan judge ruled that just because they write opinions does not necessarily afford the much-maligned credit grading industry first-amendment protection.” (Dealzone)

Second Acts: Here are some of the Wall Streeters that are shamelessly pulling a mulligan. (WaPo)

Sad: Lenny Dykstra has been accused of trying to loot his house before getting kicked out of it. (Business Insider)