But the financing market for leveraged buyouts is getting squirmy, the music business itself is harder than ever to value, and with new tenanting prospects in double-dip-recession limbo as an ebullient recovery in office-building investment slows, the tower may become part of the collateral damage caused by the shuddering fall of EMI.
All big banks require hedge funds to back up their swaps with cash collateral that is adjusted daily, says Kathryn Dick, deputy comptroller for credit and market risk at the Office of the Comptroller of the Currency.