his debts behind him. Of course, that would take the fund down, too. Après moi . . . Hilibrand’s antics reminded the bankers of how little they wanted to be there. They were loath to help the partners personally. Only fear kept them in the deal. Allison thought it would be worse for the markets—much worse—if Long-Term failed now, after a deal had been announced. Moreover, Merrill’s reputation was on the line. And Long-Term’s lawyers knew how badly Allison wanted the deal; they played the game of chicken masterfully. “The consortium said, ‘You have no alternative but us,’ ” recounted Bell, the
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