Italy to push for abolition of hedge funds

Discussion in 'Wall St. News' started by Debaser82, Oct 12, 2008.

  1. Tremonti Says Italy to Weigh Abolishing `Opaque' Hedge Funds

    Oct. 11 (Bloomberg) -- Italy may push for the abolition of hedge funds, a $2 trillion industry, when it takes over the Group of Seven presidency from Japan next year, Finance Minister Giulio Tremonti said.

    ``They are dark and opaque,'' Tremonti told reporters in Washington. ``They are demented'' and do not ``conform to the laws of capitalism.'' Asked if that means Italy would go so far as to propose abolishing them, he said it's ``something we will talk about.''

    Money overseen by hedge funds, which are private and largely unregulated pools of capital, has grown to $1.93 trillion in assets from $490 billion at the start of the decade, according to Hedge Fund Research Inc. in Chicago.

    Tremonti also said Italy would push for an expansion of the Group of Eight industrial nations, with a bigger role for the International Monetary Fund and the World Bank.

    Oh yeah. Blow those fuckers out of the sky.
  2. d08


    Yeah, so we will then have no liquidity at all. Italy is financially backwards (economy stagnant for many years now), they should not voice their opinions. I guess they will suggest an alternative - all hedge funds will be taken over by the Godfather...sorry, I mean Berlusconi.
    Maybe we should take advice from some African nations on growing wheat?
  3. We need another witch-hunt after the Taliban to get the masses to unite.
  4. lrm21


    The only hedge funds in Italy belong to the Mob.
  5. 9999


    Hehe...I'm afraid it's true.
    Most of our political class is a shame and an embarassment to our country. Tremonti is just spewing his propaganda blabber, don't mind him.
  6. Typical political wind bags. Same $hit, different crisis.