Actions by the U.S. government and Federal Reserve in the wake of the financial crisis diminished opportunities for distressed investors to make deals, Colony Capital LLC Chairman Thomas Barrack said.
“We sent invitations to a gigantic party and nobody came,” Barrack said in an interview on Bloomberg Television’s “Bloomberg West.” “The government allowed banks to slowly and in an orderly way work out of what we’d all anticipated was the $3 trillion tsunami.”
Barrack’s Santa Monica-based Colony, created in the wake of the savings-and-loan crisis of two decades ago, was among the investors expecting to snap up distressed financial assets from the detritus of the global credit crisis.
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