Friday, December 03, 2010
America's rough tough financiers, Part II
John:
John:
The basic argument for lax regulation of hedge funds is that they don't need it. Rich people and institutions invest money in hedge funds and if it doesn't work out, well, too bad. It's a free market. They're not too big to fail.
Except, of course, when they were about to fail. Then they got loans from the Fed.
