The CEO of the Royal Bank of Scotland says, "The market is getting quite toppish."

He is referring to the private equity boom and the rising interest rates along with increasing buyout prices. He warns about debt and how banks should be prepared to hold the credit themselves, rather than spread it around.

This coming from a guy whose bank leads a consortium that's made a 71 billion Euro ($96 billion) bid for ABN Amro.

Cheap debt is the fuel for the private equity boom. So, with rising interest rates and competitive pricing on buyouts, are we seeing problems starting to brew?

Perhaps so. According to a report from the Guardian Unlimited, the CEO of Royal Bank of Scotland, Sir Fred Goodwin, said banks need to be more cautious.

(Continue reading this story on BloggingBuyouts)

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