Pension funds: Widening the short-selling blame game
Discussions focused on hedge fund pay, who or what should be blamed for the meltdown and the need for regulation. The latter was almost unanimously agreed upon.
Soros admitted that funds had been an integral part of the bubble that had now burst but warned: “There is a real danger that excessive deregulation will be succeeded by punitive regulation. That would be unfortunate because regulations are liable to be even more deficient than the market mechanisms.”
Falcone argued that short-selling did not put companies out of business but rather that bad management and overleveraged balance sheets were to blame.
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