Free Republic

A familiar face from a past economic disaster could be on the verge of profiting off the current Silicon Valley Bank calamity. SVB, taken over by the Federal Deposit Insurance Corporation at the request of California regulators, is arguably the second-biggest bank failure of its kind in America — but that clearly doesn’t mean there aren’t ways to capitalize off of its collapse. According to a report from Bloomberg, the managers of the investment banking arm of Silicon Valley Bank, SVB Securities, are seeking a “management buyout of the business.” They are reportedly looking to expedite a deal because regulators...

A billionaire financier and investor was found dead of a self-inflicted gunshot wound at his office in New York City. The death of Thomas H. Lee, 78, was confirmed by his family in a statement released on Thursday. Police discovered Lee's body around 11:10 a.m. at his office on Fifth Avenue in Manhattan - where his business Thomas H. Lee Capital, LLC is located. Lee had a net worth of roughly $2 billion at the time of his death, according to Forbes. Lee was the founder and chairman of Lee Equity and had served as chairman and CEO of Thomas...

Excerpt - The two proposed buyers of Clear Channel Communications filed two lawsuits on Wednesday against six banks that agreed to finance the company’s $19.5 billion buyout. Bain Capital and Thomas H. Lee Partners, two private equity firms, sued the bank consortium in New York state court for breach of contract, accusing them of refusing to honor their commitment to finance the deal. Additionally, the two firms and Clear Channel itself sued the banks in Bexar County, Texas, where the broadcaster is based, accusing the banks of interfering with the closing of the takeover. ~ snip ~