Friday, December 05, 2008

You Want Your Money Back? Ah, Ah, Ah. Not So Fast.

Giant private equity firm Fortress Investments has denied redemption requests to one of its hedge funds. Want your money back? Read the fine print Bozo. Hop onto the magic carpet. You get to ride this pig wherever the "free market" will take it.

$30 to $1 and change. Now, that's one hell of a great investment. There goes some of your pension, university endowment, state retirement or whomever else decided to invest in many of these schemes. As we have said since starting this blog, financial markets need to be highly regulated.

posted by TimingLogic at 5:51 AM