Business

Aug 26, 2008

Corporate come-uppances: How the mighty have fallen

With the long awaited collapse of the Babcock & Brown virtually all the charlatans have now fallen back to earth, with only Macquarie emerging, severely bruised but for the time being, still standing, writes Adam Schwab.

The bigger the rise, the harder the fall, and few have fallen further than Australia’s once much loved financial engineers. During the latest debt-fuelled boom, businesspeople posing as “asset originators” rose to prominence using complicated financial structures, "stapled securities" and management fees to build fortunes. But with the long awaited collapse of Babcock & Brown virtually all the players have now fallen back to earth, with only Macquarie emerging, bruised but for the time being still standing.

Here's a list of the companies who've made some costly mistakes in recent times.

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