Monday, June 25, 2007: New York Times editorial: "So much for the argument often made by managers of hedge funds and mavens of private equity that higher taxes would cripple their business.  The prospect of higher taxes did not dent, in the least, the initial public offering on Friday of the Blackstone Group, the giant private equity firm."

Tuesday, June 26, 2007: New York Times article: "Just a few days after his giant private equity firm, Blackstone Group, made its splashy debut on the New York Stock Exchange — an event that drew an armada of television crews and wry commentary from the writer Tom Wolfe — its units slipped below their offer price of $31 Tuesday morning. If the shares fail to recover by the end of the day, it would be an embarrassing setback for Blackstone and its underwriters, who priced the I.P.O. at the high end of the expected range despite an array of challenges leading up to the offering."

The stock didn't recover by the end of the day.