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Reader's Feedback Published on 20/10/2007
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Agence france Presse
"New IMF, World bank chiefs face task of restoring credibility"
The industry's size-hedge funds contain over $1.5 trillion and the impact of the funds' trading strategies on securities markets and on company operations has prompted regulators around the world to investigate the industry. The securities and exchange commission recently promulgated a limited package of new rules, effective on February 1 of this year.
SEC lists as one of its primary reasons for its new hedge fund regulations, a number of troubling incidences of fraud perpetrated by hedge fund operators. People who are suspicious of " get-rich-quick, guaranteed" come-on pitches believe that hedge funds may be duping their own investors with false promises of easy money.
Colleges such as the college of Wooster in Ohio have over 80 percent of their entire endowment in hedge funds, to the consternation of some of their alumni who wonder whether the college officials are overmatched when responding to hedge fund solicitations. The more money it has made, the more it has borrowed, and the harder and more devastating the fall will be in the end. There is a crash coming, no matter how often the feel-good economists predict that all things will continue as they are, just because they have been for the last several decades.
Ted Rudow III,MA
California, United States of America
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