hedge funds

Hedge Funds attacked 1,000 Companies and Destroyed 1,200,000 Jobs

Some breakthrough work on the impact hedge funds have had on the real economy was posted this evening on DailyKos by vets74: 1,000 Companies Attacked -> 1,200,000 Jobs Destroyed

These attacks combine corrupt MSM lie campaigns with market dumps of "naked shorts" and counterfeit "phantom stock."

Hedge Funds now getting bailed out

First it was insurance companies in the form of AIG. Now it's $200 Billion for hedge funds. When did the Federal Reserve's mandate go beyond banks?

Hedge funds will be allowed to borrow from the Federal Reserve for the first time under a landmark $200bn programme intended to support consumer credit.

The Fed said on Friday it would offer low-cost three-year funding to any US company investing in securitised consumer loans under the Term Asset-backed Securities Loan Facility (TALF). This includes hedge funds, which have never been able to borrow from the US central bank before, although the Fed may not permit hedge funds to use offshore vehicles to conduct the transactions.

The asset-backed securities to be funded under the programme are pools of credit card receivables, automobile loans and student loans.

Obama's Chief Economic Advisor: Milton Friedman, deregulation good

Per Ezra Klein, we learn that Larry Summers has said this:

As for [Milton] Friedman -- I'm not so sure he looks bad. What is most screwed up today? GSEs, Citibank, regional banks. What is most regulated? Same list. What is least screwed up? Hedge funds and the like. What is least regulated? If regulation means the jihad against short selling that the Securities and Exchange Commission is engaged in, then god help us all.

The only reason "regulated" banks are the "most screwed up" now is because the "unregulated" investment banks are "gone." And as for hedge funds:

The hedge fund industry has been hit hard by the worst global financial and economic crisis in decades.

Dr. Doom Roubini Predicts the Demise of Hedge Funds

Dr. Doom is back.

Hedge funds closures will eliminate about 30 percent of the industry, and policy makers may need to shut markets for a week or more to stem panic

From Bloomberg

It appears he is not alone in this prediction, Emmanuel Roman, head of GLG one of the biggest hedge funds, is saying the same thing.

25% TO 30% of the world's 8,000 hedge funds would disappear "in a Darwinian process", either going bust or deciding meager profits are not worth their efforts.

This will go down in the history books as one of the greatest fiascos of banking in 100 years

Roubini is saying 500 hedge funds will fail within months and calculating out Roman, that would be 2000 to 2400 hedge fund failures.

Here Comes De Hedge Funds

The CNBC screen flashed with massive losses of hedge funds. 18% down, 14% down, 20% down.....

It appears Dr. Doom is batting 1000 for he just predicted the hedge funds would be next to collapse.

While they are blaming a ban on short selling, one foreboding issue pops up:

Some pension funds and endowments that have relied on hedge funds for a stable, higher-than-average source of investment returns have been watching the unfolding trouble with alarm

The Independent has the scoop:

Redemptions means people are saying give me my money, I want out!

CFTC Alleges Dutch Trading Firm Manipulated Energy Market

CFTC Alleges Dutch Trading Firm Manipulated Nymex Energy Market

The U.S. Commodity Futures Trading Commission, under pressure from Congress to police markets in the wake of record energy prices, accused Optiver Holding BV of manipulating U.S. energy markets.

The allegations against the Amsterdam-based hedge fund come as the Senate prepares to vote as early as tomorrow on legislation to curb speculation in energy markets and expand the commission's authority and staffing.

``Congress is looking for someone to blame,'' said Kevin Book, senior vice president for Friedman, Billings, Ramsey & Co. Inc. in Arlington, Virginia. ``The CFTC is trying to make sure it's not them.'