From Barrons: A new study from the Rand Corporation says hedge funds
didn't cause the 2008 financial crisis. But that doesn't mean they couldn't
cause the next one.
Well, that's a relief. It turns out hedge funds did not
actually cause the financial crisis that sent the global economy into a
tailspin. But that doesn't mean they couldn't cause the next one.
This ray of sunshine—and the dark clouds it's peeking
through—is brought to you by the Rand Corporation's latest study, "Hedge
Funds and Systemic Risk," released last week. Rand is a nonpartisan,
nonprofit research organization in Santa Monica, Calif. Hedge funds got a black eye from the crisis,
and their actions, including short-selling and derivative trading, certainly
exacerbated some problems....
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