Monday, September 21, 2009

Debt-For-Equity Swaps: Goldman And JPM Do A Stealthy Roll Up Of The Media Industry

A Curious Snag In Debt-For-Equity Restructurings As Goldman And JPM Do A Stealthy Roll Up Of The Media Industry

As everyone is focused on such trivial matters as how much money Lloyd Blankfein and Jamie Dimon will make this year, or how many quadrillion in Treasuries the Fed will monetize in the next year or two, Wall Street's two behemoths, Goldman and JP Morgan, have been pursuing a stealthy roll up of the media industry, preparing to exercise full equity control over an unprecedented amount of TV, radio, newspaper and magazine companies. Whether their alleged motto "Propaganda or bust" is true, only time will tell.

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