Just How Bad Does Goldman Sachs Think Things Are Going To Get?

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Distressed debt specialist Lachlan Edwards is defecting to Goldman Sachs from Rothschild, where he had been running its European restructuring arm. Edwards, a 39 year old Australian native, will work out of London in the bank’s European leverage finance practice, which is headed by Tim Flynn and Doug Henderson.
Last month Goldman poached bankruptcy attorney James Sprayregen from Kirkland & Ellis. Combined with the Edwards acquisition, this has some folks wondering just how bad Goldman thinks the world economy is going to get. Of course, the expansion of its restructuring practice may just be a result of regulatory reforms which have made it easier for some European companies to declare bankruptcy and changes in US laws which had previously barred underwriters from advising a company in bankruptcy if they had recently underwritten securities for a company.
Or, you know, Goldman may just think we’re all heading down the tank.

Goldman Sachs hires distressed company specialist
[Reuters]

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