Cerberus creates a hybrid group designed to
capture distressed deal flow
When Oliver Stone and Stanley Weiser, writers of the 1987
blockbuster film 'Wall Street', put the words "greed is good"
in the mouth of the fictional buyout baron Gordon Gekko, played
by Michael Douglas, they probably thought they had created the
perfect characterization of a new type of capitalist emerging
from the ranks of junk-bond empires, like Michael Milken at
Drexel Burnham Lambert. After all, they were pulling much of
their material from the headlines of the day.
But even these writers of contemporary business history
probably wouldn't have ever believed what the next step on Wall
Street's evolutionary ladder would be. It's unlikely in 1987
that anyone could have foreseen the real heir of the fictional
Gordon Gekko and the managers of the soon-to-fall Drexel
Burnham Lambert. That heir was the decidedly un-Gekko-esque
The intensely private...