Money managers under the microscope
He said at the Reuters Restructuring Summit in London that by the end of the year banks will issue “in patient”, “out patient” or “morgue” judgements as they go about the business to decide who gets much needed loans and who does not.
They will do it with the same inexorable cool as the Spirit of Christmas Yet To Come in “A Christmas Carol.” And it looks like this character will be the only one borrowed from Dickens’ tale of hope.
If Davies is right, the only Charles that will shape corporate events this winter will be Darwin rather than Dickens. Leverage per se will not be seen as a morgue attribute though — it will be working capital flows that make or break a company.
Isabella of Castile was a controversial woman. A woman who made history for herself and her country. She has been called saint and a tyrant, but never before a hedge fund manager.