11-17-2008, 01:18 PM
<b>Kotak Mahindra, Former Goldman Ally, Seeks Overseas Partners</b>
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<b>Credit-Crunch Villains Pass the Buck, Party On: Mark Gilbert</b>
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>``Hey, we warned you there would be times like this,'' said the hedge-fund manager. ``If you want years when we deliver 50 percent, 60 percent returns, you have to expect periods when we will lose 20 or 25 percent of your money. You won't see us lining up with our begging bowls at the government bailout window.'' </b>
The waiter coughed, proffering a slim leather folder containing the reckoning for the evening's entertainment.
``You are a taxpayer, I take it?'' asked the investment banker. The waiter nodded. ``In which case, we were rather hoping you would foot the bill.''
(Mark Gilbert is a Bloomberg News columnist. The opinions expressed are his own.)
To contact the writer of this column: Mark Gilbert in London at magilbert@bloomberg.net<!--QuoteEnd--><!--QuoteEEnd-->
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<b>Credit-Crunch Villains Pass the Buck, Party On: Mark Gilbert</b>
<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>``Hey, we warned you there would be times like this,'' said the hedge-fund manager. ``If you want years when we deliver 50 percent, 60 percent returns, you have to expect periods when we will lose 20 or 25 percent of your money. You won't see us lining up with our begging bowls at the government bailout window.'' </b>
The waiter coughed, proffering a slim leather folder containing the reckoning for the evening's entertainment.
``You are a taxpayer, I take it?'' asked the investment banker. The waiter nodded. ``In which case, we were rather hoping you would foot the bill.''
(Mark Gilbert is a Bloomberg News columnist. The opinions expressed are his own.)
To contact the writer of this column: Mark Gilbert in London at magilbert@bloomberg.net<!--QuoteEnd--><!--QuoteEEnd-->