Mon, Oct 5, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge funds - willing culprits or easy scapegoats?

Wednesday, October 03, 2012

Beverly Chandler, Opalesque London: Oliver Stone changed the script of his movie "Wall Street 2" from focusing on the Hedge Fund industry to that of Investment Banking says Shane Brett in his latest Global Perspective white paper entitled 'Willing culprits or easy scapegoats?’.

Can this be the best evidence yet that the world is beginning to hate hedge funds less? The blame for the global financial crisis lies squarely at the doors of the banks, Brett says in a tightly written history of the financial crisis and the hedge funds’ role within it. "It was the banks that caused this economic crisis. It was the excesses of the banking industry, through the accelerated growth of debt and lax lending criteria that planted the seeds of global economic collapse" he writes.

Brett opens his piece with a quote from The Sunday Times in 2010, when Kate Walsh wrote: "It was quite convenient to blame the Hedge Funds. They were an easy target, in that they were super-rich, a lot of them were American, and they were presented as bad people. They were blamed for what was happening to our banking system, which in reality was complete rubbish".

For Brett, the seeds of the current problems started to sprout back in 2007 when what he believes was the first really significant event to signal a coming financial storm occurred in the UK on August 9th, when BNP Paribas halted redemptions from three of its He......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Performance - Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September, Risky strategy sinks small hedge fund[more]

    Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September From Billionaire stock pickers David Einhorn, Daniel Loeb and Barry Rosenstein on Wednesday told their wealthy investors they lost money in September as market turmoil inflicted more pain on some of America'

  2. Opalesque Exclusive: IRAs represent billions of untapped capital for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Retirement accounts might not be the first source that comes to mind for those looking to raise funds, but they may represent billions of untapped capital. Unlike traditional retirement accounts,

  3. Opalesque TV: One way to access market hedge funds in the EU under the AIFMD radar[more]

    Benedicte Gravrand, Opalesque Geneva: While the Cayman Islands, the US and Hong Kong await the pan-European marketing passport to be extended to alternative investment fund

  4. Investing - U.S. biotech bloodbath hits hedge funds but some bargains emerge, Computer-driven hedge funds betting on further stock selloff[more]

    U.S. biotech bloodbath hits hedge funds but some bargains emerge From A seven-day selloff of U.S. biotechnology stocks has hit sector investors - especially hedge funds - hard. But some managers say it was overdone and are already eyeing bargains such as Gilead Sciences Inc

  5. Vilas’ equity long bias hedge fund generates market-beating results[more]

    Komfie Manalo, Opalesque Asia: The Vilas Fund, an equity long bias fund managed by Chicago, Illinois-based Vilas Capital Management, posted five-year annualized returns, net of fees, of 23.47% vs. 15.87% for the S&P 500 Index, including divid