Sunday, May 31, 2009

GMAC's TARP Money Washes Through Carlyle Group


GMAC's Capital Markets Group will rent 24,000 square feet on Sixth Avenue in New York. The building's owner is The Carlyle Group, a huge politically connected private equity underwriter (PEU). Did Carlyle discount the rent 42% for an equity chunk of GMAC? Carlyle wants to buy distressed banks, but they'd rather the FDIC shut out equity holders first.