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Strategies & Market Trends : The coming US dollar crisis
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From: Real Man1/28/2009 1:11:53 PM
   of 71456
 
He-he-he .... They are really poor overleveraged chaps
from the hedge funds industry. Witch hunt is in progress,
and hedge funds are the obvious target ...

If they made ANY legal mistake (such as not investing
in accord with their legal documents) and lost money, they
are in trouble. And even if they didn't. Sigh.
Such is the downside of managing OPM in a hedge fund.

Of course, given the boom, some were real crooks. The industry
will shrink to a shadow to its former self this year.

Troubled Times Bring Mini-Madoffs to Light

Their names lack the Dickensian flair of Bernie Madoff, and the
money they apparently stole from investors was a small fraction
of the $50 billion that Mr. Madoff allegedly lost of his
clients’ savings.

But the number of other people who have been caught running
Ponzi schemes in recent weeks is adding up quickly, so much so
that they have earned themselves a nickname: mini-Madoffs.

Some of these schemes have been operating for years, and
others are of more recent vintage. But what is causing them to
surface now appears to be a combination of a deteriorating
economy and heightened skepticism about outsize returns after
the revelations about Mr. Madoff. That can scare off new
clients and cause longtime investors to demand their money
back, which brings the charade tumbling down.

.............. More below ...........

finance.yahoo.com
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