Lyondell Banks Caught in Bankruptcy (Bloomberg, 9 Feb 09)

The record losses from this cycle will only delay another buyout trend, says Christopher Garman, chief executive officer of Garman Research LLC in Orinda, California, and a former head of high-yield strategy at Merrill Lynch.

“Financial markets don’t learn,” Garman said. “The cycle for leveraged buyouts will never go away. We may not see it for another 20 years, but at some point there will be a similar phenomenon.”
 

Lyondell Banks Caught in Bankruptcy (Bloomberg, 9 Feb 09)

The record losses from this cycle will only delay another buyout trend, says Christopher Garman, chief executive officer of Garman Research LLC in Orinda, California, and a former head of high-yield strategy at Merrill Lynch.

“Financial markets don’t learn,” Garman said. “The cycle for leveraged buyouts will never go away. We may not see it for another 20 years, but at some point there will be a similar phenomenon.”