Problems At Carlyle Capital Have Investors In Sour Mood
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US Markets look to open lower today following news Carlyle Capital defaulted on $16.6 billion in debt after failing to meet margins calls of $400 million. The fund has $21.7 billion in AAA mortgage-backed issued by Fannie Mae and Freddie Mac. It was unable to come up with an agreement with lenders, which have required the highly leveraged Carlyle Capital to increase its cash equity.
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