Leveraged Loans: The Hangover Wasn’t Worth the Buzz

``The investment banks look to have put a lot on the line for relatively little payoff. Citigroup, for instance, earned only $856 million in fees from private-equity firms in 2007, even though the bank underwrote leveraged loans totaling $114.3 billion and still holds $43 billion in exposure.'' -- Money center banks didn't act so rationally, it turns out.