Friday, October 24, 2008

The Light at the End of the Tunnel has been turned off.

Panic over hedge funds 'could close markets'

Regulators could be forced to shut down markets for as long as a fortnight in order to stanch the panic beginning to beset the hedge fund industry, a leading expert predicted yesterday. Nouriel Roubini, a professor at New York University, told a London conference that hundreds of hedge funds are poised to fail as frantic investors rush to redeem their assets and force managers into a fire sale of assets. He said: “We've reached a situation of sheer panic. Don't be surprised if policymakers need to close down markets for a week or two in coming days.”

Posted by debtfree @ 12:13 PM (3721 views)
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