CrossHarbor specializes in alternative investments and distressed assets that mainstream investors typically avoid.

Buying the distressed assets for pennies and selling them on later.

If one assumes that current conditions reflect a temporary panic, then the value of the banks' distressed assets could well recover over time.

The law also opens the door to foreign ownership of local banks and sets up a framework for investors to buy distressed assets from them.

Corporate owners with close yet complex relationships and recurring faces view these forests as distressed assets in need of liquidation.

"For the last 10 years we have been buying distressed assets, fixing them up, renting them and financing them," he said.

The Asian carriers "are the ones with the capital and the impetus from deregulation to go out and pick up these distressed assets," he added.

Purchasers of distressed assets should buy undervalued securities, thus increasing prices, allowing other Companies to consequently mark up their similar holdings.

The hybrid hedge funds that invest in distressed assets, including loans among other things, had annualized net returns of 13.7 percent.

Although Miller plunged into the red last year it is known the company has been looking to invest in distressed assets.