[ncalburt]

Bearns was heavily financially linked to the Carlye group

[Ernest_at_the_Beach]

I think I heard that Carlyle was leveraged like 22:1.....really exposed...I think they went Kaput...

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Google turned this up:

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Carlyle Group Doomed To Follow Enron: Is Hedge Fund Collapse Just Tip Of the 9/11 Put Options Scandal & 1700's Pirate Treasure?

Yes it did:

Opening Bell: The Great Hedge-Fund Unwind

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The hedge fund Carlyle Capital all but collapsed last night, stunning investors with the speed of its fall from being one of the biggest-name investment vehicles spawned by the late credit bubble to its latest victim.

Bloomberg reports the public company said late Wednesday it has defaulted on $16.6 billion in debt after its banks withdrew their money from the fund. Carlyle’s pleas to its lenders failed to prevent them from issuing margin calls (requirements to put up more collateral for investment loans) because of the plunging value of Carlyle’s investments, which spiraled uncontrollably until it wiped out all of the company’s cash.