More hedge fund failures expected - Democratic Underground

lovuian

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Mon Aug-20-07 10:26 PM
Original message

More hedge fund failures expected

2007 will become a record year for hedge fund industry failures.

Hundreds of funds and fund managers are likely to leave an industry that now manages US$1.75 trillion.

The exits have become more numerous after the meltdown in subprime mortgage investments, which spread to other sectors and caught some of the most seasoned managers off guard.

Two prominent Bear Stearns funds and Sowood Capital, run by a former Harvard Management stock picker, collapsed recently, while an ailing fund run by Goldman Sachs got a US$3 billion cash injection last week.
more...
Lots of rich people lost Big
very sad
I bet these people were Bush Supporters too

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Tandalayo_Scheisskopf

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Mon Aug-20-07 10:31 PM
Response to Original message

1. Bring on the indictments.

I wanna see heads on pike polls in front of every financial exchange in the world. Tarred, so they will last longer and thus, the concept that they communicate will sink into their puddin' heads.

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lovuian

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Mon Aug-20-07 10:43 PM
Response to Reply #1

2. Yes there is fishy business here

it reminds me of Enron

total set up

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spag68

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Mon Aug-20-07 10:54 PM
Response to Original message

3. Don't worry

There are already plans to bail them out. Countrywide has borrowed 11 billion at discount rate to stay afloat and they will not let he big money people get burned.

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Solar_Power

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Mon Aug-20-07 10:55 PM
Response to Original message

4. Are we supposed to feel sorry for these billionaires now?

Or should taxpayers bail them out?

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