Seriously, what is Neel Kashkari waiting for?

Another capital management firm, Dallas-based Highland Capital Management LP announced to their investors that they were shutting down, closing the doors, throwing in the towel, calling it a day, going belly up.

The Highland Crusader Fund is going along with assets of $1.5 billion.

Highland specialized in:

1. buying high-yield loans

2. buying distressed assets

Um, doesn’t look to me like they specialized in it very well.

Highland blames “unprecedented market volatility and disruption.”

Um, yeah, that is when there is high-yield, right? When there is high risk.

Assets will be sold off over the next couple of years.

Problems came for Highland when investors started asking for their money back. Uh, yeah… I want our $700 billion back. It’s not working, unless you work for places like AIG.

Neel Kashkari…what’s taking so long?

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