The Best Way to Rob a Bank

The best way to rob a bank is to own a bank. I think that the collapse over the past week of Gree

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  1. I was waiting to see if you guys would pick up this story. Credit to ZH for picking at this scab early.

  2. Great article Ben, impressed with your ability to not only figure it out (adding colorful details) but writing so clearly so that your readers completely get it
    Thank you

  3. After three decades in this business, the only thing that surprises me is that supposedly smart people continuously fail to do even the tiniest bit of due diligence. And yes, there is always a “rogue (fill in the blank)” to blame.

  4. Wherever there’s a carcass with bits of meat still remaining on the bones, Leon Black cannot be far away. Something tells me that a few months from now Apollo investors can look forward to being sold a new and exciting distressed asset fund filled with only the sort of opportunity that the brain trust in the Solow Building could find.

  5. Amazing how many of these “rogue” employees seem to exist and yet nobody ever bothers to put in controls to catch them. If only there were some sort of hierarchical structure that could be created that applies due diligence to deals before they are executed…

  6. Yes, those pedo-apologists seem to have a keen eye for the distressed.

  7. “You got fins to the left, fins to the right and you’re the only bait in town.”

    Thanks Ben. Enjoyed the presentation.

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