A Titan Of IndustryImbecility

America. Where failure on a massive scale is punished w/ the opportunity to do yet another deal. (Which is funny, because we somehow got the impression that those who fail are not rewarded at all, that "the market" deals effectively w/ the imbeciles & incompetent.)

William Brandt Jr., a corporate turnaround expert not involved in the case, said enough time has passed so that creditors and the debtor want to cut losses and save face. He said an honorable exit is especially important to Zell, who might need investment banking help for future deals.

And what kind of investment banker would invest the price of a shoe-shine w/ an imbecile? We'd have to assume it could only be another imbecile.

"This was a textbook case of a leverage buyout gone bad," said Brandt, president of Development Specialists Inc. "These were imbeciles who had no idea what they were doing."

See item just beneath↓.