By Michelle Celarier, editor
The seemingly unending financial crisis spilled over to hedge
funds in unusual ways this summer. First, not surprisingly, was
the blame game: As more financial institutions teetered on the
edge of collapse, the Securities and Exchange Commission
started subpoenaing hedge funds over their shorting of both
Bear Stearns and Lehman Brothers.
It must be galling to the banks, who've lost their best
people to hedge funds in recent years, that these upstarts are
actually making money off the banks' own short-sighted greed.
But hedge funds feel...