Hedge Funds On The Brink

Discussion in 'Wall St. News' started by archon, Mar 13, 2008.

  1. archon



    Hedge funds on the brink as US Federal Reserve cash fails to ease crisis
    Suzy Jagger in New York

    Several hedge funds with assets of more than $4 billion (£2 billion) were on the brink of collapse last night or had halted withdrawals, despite moves by the US Federal Reserve this week to ease America’s deteriorating credit crisis with a $200 billion collateral lending facility.

    The potential closure of six funds came as a leading private equity executive, who declined to be named, said that such funds were “snapping like twigs”, with one failing every day.

    Yesterday Patti Cook, Freddie Mac’s chief business officer, predicted that the Federal Reserve’s $200 billion bond lending facility this week would fail to solve the long-term problem of Wall Street’s deepening credit crisis....

  2. Does Patti Cook still have a job today?