In the 1980s they werejunkbondsandLBOs. The most recent bubble offered CDOs, Option ARMS, Structured Notes and a virtuallexicon of complex and convolutedfinancing.
Using a combination of junk bond debt and bank financing, Singleton and his 87-year-old partner, Richard Scudder, are masters at bunching smallish suburban and hick-town papers around metro areas and skimming off advertising revenue that would otherwise go to the big paper in the city.