Douglas Landy, partner in Milbank, Tweed, Hadley & McCloy's Leveraged Finance Group, provided commentary in a recent Bloomberg News article titled, "Goldman May Dodge Private-Equity Losses With Volcker Reprieve."
Mr. Landy comments that, "banks can apply for more time on each individual fund they've invested in. Because there are thousands, securities lawyers say the Fed will have to grant a blanket extension to avoid getting buried in paperwork. If the Fed tries to go through each fund one-by-one, there's no chance it finishes before July."
