Sunday, January 24, 2010
Late last week, Obama announced the "Volcker Rule" -- a new era Glass-Steagall. Prohibiting banks that take deposits from investing in private equity or hedge-funds will likely have a big impact on the position of financial acquirers in the takeover market. Could it be the end of private equity - and the market for corporate control - as we know it? That sounds pretty apocalyptic. It couldn't be that bad, could it?