Wednesday, August 29, 2007

Don't Cry for the Hedge Fund Managers

By Sarah Anderson, AlterNet
Posted on August 29, 2007, Printed on August 29, 2007
http://www.alternet.org/story/60833/

You've probably been staying up nights worrying about how hedge fund managers are going to weather the credit crunch stemming from the subprime mortgage storm. These men are expected to really suffer since they borrow so heavily to finance their gambling in global financial markets. Many were also stuck with piles of mortgage-backed securities when these paper assets plunged in value. A few funds have already stumbled, and Moody's credit raters have warned of a 50-50 chance that one of the big ones will crash soon.

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