2007-09-03 — ft.com
"the amount of deals delayed or stuck in the pipeline has risen to $470bn. This is made up of $385bn in leveraged loans, $81bn in equity business, including IPOs and rights issues, and $4bn in delayed new bond issues.... The big universal banks such as Citigroup and JPMorgan, which are holding a lot of these loans, can probably absorb losses more easily, but the smaller investment banks such as Goldman Sachs and Lehman Brothers, which also have a lot of loans on their books, need the capital from them to do business in general. If they can‘t find buyers for their loans, it means they have less money for other activities."
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