That discovery by U.S. investigators is the classic pyramid in which the interest to existing clients are paid with money from the new.
To put it in feet Bernard Madoff, a man leading U.S. finance.
The figures in the game would be about 50 billion dollars. Cascade have been particularly hedge funds, including Italians.
Not just the financial crisis and now economic for months that devastates the markets. Now in this scenario, which is rather bleak set euphemistic, is added to the scam.

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Hundreds of funds swept from a quantity 'of huge ransoms, because of the crisis. Cade another cornerstone of irresponsible finance that has brought the system to collapse.

Hundreds of hedge funds are (or are in them), overwhelmed by an amount 'unprecedented redemptions by investors, given the financial crisis that is shaking Wall Street. Cade as' a cornerstone of irresponsible finance that has brought the system to collapse.

I purchase many funds are available only at the end of the quarter following that in which he 'made the request, which, according to industry insiders, the millions of dollars of losses will not be for a while' time. He weighed obviously, the ban decided by the Sec few days ago to work with sales down "naked short", meaning 'to have done without the titles, one of the best practices' used by managers of aggressive hedge funds, but also a most of those 'does scandalize the people, because' morally sinister and destructive, for his interest purely speculative.

The list of hedge funds that are already 'jumped and' came to 81 (51 operated by Company ') and since' started the subprime mortgage crisis in August last year, according to The Hedge Fund implode-O-Meter ( HFI). The historical peak of bankruptcies in the last 10 years and 'rule of 14, including players such as Long-Term Capital Management and Amaranth, according to an article dell'Independent London.

According to EuroHedge, a company 'that collects data on hedge funds, in the first six months of 2008 were launched 272 new funds, the absolute minimum of the last nine years. In the same half of 243 funds were liquidated, the most 'high in absolute number of failures over a period of six months.

Nouriel Roubini, the professor of the New York University and that 'one of the most' apocaliitici singers of the current disaster in the markets, says that the worst is yet to come, for hedge funds. Roubini argues that there will be 'an increase in redemptions by investors and there will be' an earthquake on the regulation of these funds, when out of any law, rule, control and supervision of the authorities' monetary and stock market.

"The next stage will be 'a flight of investors from thousands of hedge funds with high leverage," Roubini writes on his blog. After a period of lock-up (when they can not redeem shares) investors demand redemption of their capital on a quarterly basis. That is a flight from hedge funds and 'highly possible. Hundreds of small and young funds that have taken excessive risks with high leverage and are poorly managed may collapse. A powerful earthquake in this area too inflated and 'highly likely over the next two years. "

The Daimler Group, which includes car brands Mercedes-Benz, Smart and Maybach, is likely to fall into the clutches of hedge funds. Or of those funds, colossal, operating from a speculative and that point to very fruitful economic returns through riskier investments.

In Germany it has been talked about more or less quietly for over a week. But to break out the case was yesterday, the weekly Focus. Some banks, according to the magazine, informed the group in Stuttgart that a foreign investor, taking advantage of low stock market value, is raking actions on actions.

The hypothetical climbing to the house of the star is helped by the collapse of the title in Frankfurt, rose from about 80 euros in November to 36.64 last Friday. Only to announce that the turnover of the group this year will suffer a sharp contraction, due to the crisis in consumption and the high-gas that led to a cut in the quarterly return of 25%, Daimler shares were depreciated Last week, 10 per cent.

It's the same reason that led the Bavarian firm Schaeffler launched a hostile takeover bid on Continental, the initiative made easier by the large fall in the title of the group in Hanover. Now, to stir up even more this summer in Germany, has added another Daimler. In Germany unscrupulous financial investors (this is not the case of the family Schaeffler) are nicknamed heuschrecke, ie "locusts." They found fertile ground in societies where there is a pool of investors who are able to block an attempted assault. Daimler, specifically, is particularly exposed to such offensive as the largest shareholder is the Emirate of Kuwait with 7.6% of the shares. The Chairman Dieter Zetsche, therefore, does not sleep easy though, as does the Journal know a spokesman in Stuttgart, "in this moment the group is not considered in the middle of climbing, we are satisfied with the composition of shareholding reference. Nonetheless, he adds, that in case of escalation "could not fight."

Stuttgart has meanwhile launched a program to purchase 10% of the capital (96.4 million of securities), for a maximum of 6 billion. The expiration of the operation is set to 8 April 2009, date of next general meeting of shareholders. The case Daimler us with the memory a few years ago when the Fiat, thanks to the Agnelli family, through the equity swap transaction followed the entry of banks converting shareholding, had removed to run the same risks today the Germans.

Like BMW, which just launched Friday the profit warning, Stuttgart also suffers in particular the American economic situation. The only consolation for Zetsche, is the positive impact on U.S. small-Smart: in 2008, according to the importer Roger Penske, sales will grow to 27,500 units from 20mila provided.

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