Junkman in D.C. (Henry Kravis) (editorial)

Nation, The, March, 1989 by Holland, Max

Henry Kravis prefers doing deals to cajoling Congress. But for the moment, Washington has taken precedence over Wall Street for this leveraged buyout artist and his creative colleagues at Kohlberg, Kravis and Roberts (K.K.R.). The investment bankers are acutely worried that Congress may take away their paints.

Last December, some of the most powerful in Congress were clamoring for an abrupt end to the buyout madness after the unprecedented $25 billion RJR Nabisco deal. No fewer than nine investigations were launched. In response, the normally secretive Kravis promptly assembled a supporting cast of lobbyists and personally began trying to convince key senators and representatives that L.B.O.s are elixirs for what ails corporate America. And Kravis...

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