How the Credit Crunch Has Wider Consequences

It just 86ed a deal to Carlyle Group to sell a cable company.

The bidders could not raise the necessary money.

The Washington Post reported the problems in the sale of Insight Communications, which Carlyle Group purchased for about $2.1 billion in 2005. Bidders including Time Warner Cable, had difficulty getting enough bank financing, according to the report.

Seriously, owning a cable company is about as near as you can come to legalized theft in this country, and Time F&^%ing Warner could not find financing?

Merger and acquisition activity in the US is very close to collapsing.