Is the End of the M&A Boom at Hand?

Private equity is having a harder time finding investors for risky LBOs. Fallout from a collapsed megadeal could prove worse than the subprime crisis

The messy market in risky mortgages has made banks much less willing to hand out no-money-down loans or to put cash in the hands of unqualified buyers. But look beyond the subprime problems, and you'll see that the market for shaky corporate debt also has some difficulties just now coming to light. And they may prove to be even more severe.

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