IN THE NEWS
For Minority Firms, Crisis Opens Doors
Wall Street Journal, 5/22/2009
"The financial turmoil that has weakened or destroyed some of Wall Street's most prominent companies is presenting an opportunity for some lesser-known firms, especially those owned by women and minorities."
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Ahh, the allure of toxic assets (subscription required)
Crain's New York Business, May 17, 2009
"Bedazzled by the potential windfall, top-shelf investors such as BlackRock's Larry Fink and "King of Bankruptcy" Wilbur Ross are trying to get in on the program, lovingly known as the PPIP. So are small minority-owned investment firms, including Mr. Cogsville's Cogsville Group, and economic forecaster Maria Fiorini Ramirez's firm, which last week teamed up with private equity investor Paramax Capital Partners."
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US banking: What it will take for Talf to take off
Euromoney, May 05, 2009
"Two months in and only $6.4 billion in Talf loans from the $200 billion programme have been taken up. The number of investors lined up to participate is increasing and Ben Bernanke could end up with his $1 trillion dream of Talf issuance and a revival of US consumer lending. Issuers need to get on board. But will they?"
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On to the Third Round: An Update on TALF (subscription required)
Asset Securitization Report, May 1, 2009
"Furthermore, different investment funds have been set up to take advantage of investment opportunities presented by TALF. PIMCO, Paramax Capital Partners, Princeton Advisory Group, Aladdin Capital Management, Belstar Group and Seer Capital Management are just some of the firms setting up these funds."
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Federal Program to Boost Private Lending Struggles to Get Money to Consumers
Washington Post, April 23, 2009
"In its first two months, the government's signature initiative to support consumer lending has fallen well short of expectations, deploying only a fraction of the amount officials had hoped to extend to stimulate auto loans, student loans and credit card lending."
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Managers Line Up for Federal TALF Program (subscription required)
FundFire, April 22, 2009
"Asset managers large and small are developing products for the federal government's Term Asset-Backed Securities Loan Facility (TALF), spurred on by growing interest from institutional investors. But the industry remains cautious about the Public-Private Investment Program (PPIP), a more recent initiative that targets the toxic assets sitting on banks' balance sheets."
Paramax Capital Plans to Raise $200 Million for TALF Funds (subscription required)
Bloomberg, April 16, 2009
Paramax Capital Group LLC, a $2 billion investment firm, plans to raise $200 million for two funds that will buy securities offered through the Federal Reserve's Term Asset-Backed Securities Loan Facility.
Paramax Capital to launch two new TALF portfolios
Reuters, April 16, 2009
U.S. investment manager Paramax Capital Partners said on Thursday that it plans to raise two new funds that will buy eligible securities from the U.S. Treasury's Term Asset-Backed Securities Loan Facility.
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Geithner plan restores key piece: Market price
Chicago Tribune, March 24, 2009
President Barack Obama and Treasury Secretary Timothy Geithner say runaway borrowing was a root cause of the economic crisis, so there is irony in the way they are trying to get financial markets unstuck with a new program that depends on - you guessed it - access to easy credit.
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