From Dealbook article about PE lending getting "toppish"
At a conference in Tokyo earlier this month, the Carlyle Group's co-founder, David Rubenstein, admitted that with all the deal activity, it was inevitable that not all the investments were going to turn out well. "There hasn't been a failure for five years. We need to prepare people for the reality that some deals will fail," he said. He added: "Greed has taken over. Nobody fears failure."