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Furthering Macquarie's Vertical Strategy

September 9, 2009

Analysis of:Macquarie in talks to acquire Fox-Pitt: source | uk.reuters.com

By acquiring a respected financial services industry boutique like Fox Pitt in the current market environment, Macquarie can enhance its positioning across a number of business lines and move closer to a full service operation. All signs point to higher long term capital requirements across the financial service spectrum, and the distribution of banks and insurers (by asset size) in the US implies that many are too small to merit the attention of the remaining broad line investment banks.

CACB Shareholders: For Whom the Bell Tolls

September 4, 2009

Analysis of:Cascade Bancorp enters into agreement with FDIC | www.bizjournals.com

The FDIC's issuance of a cease and desist order does not bode well for already battered shareholders of Cascade Bancorp. A "C&D" order, one of the most powerful tools that bank regulators have, is an injunctive-type order issued when a banking organization is or has engaged in an unsafe or unsound banking practice, or a violation of law, and the organization is required to follow the proscriptions set out in the order. Such orders are often a precursor to more drastic actions.

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