Friday, February 15, 2008

Cerberus Letter

Inside this WSJ Deal Journal item is a link to a 9-page letter by Cerberus Managing Member Stephen Feinberg. It is worth reading in full, despite some whining about the press, which I'm sure is justified, but who cares. In particular, the first four or five pages give a very good overview of the havoc caused by the "credit crunch" and the further havoc that awaits.