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Quotes of the month

"He needs to get his returns back on track soon or else investors will start to pull out money, which will bring down assets, and then more will pull out. He’s far from over but he has lost a lot of money now, which is concerning"

John Godden, founder of hedge fund consultants IGS Group,voices concern over John Paulson’s fund performance

(see Investors hold nerve as hedge fund returns plunge)

"Five years ago, funding was easily available for almost all banks. Now we realize that funding is a precious resource that we have to be very careful with"

Rolf Enderli, group treasurer at Credit Suisse, explains the brave new world of bank funding

(see Funding freeze pushes banks closer to the edge)

"If you are a European treasurer you are going to have a bit of cold feet about validating these spreads. It is a double-edged sword. It would be seen as a sign of desperation – that you don’t have the resources to wait"

Eric Aboaf, Citi’s treasurer, outlines the funding conundrum facing some of his European counterparts

(see Funding freeze pushes banks closer to the edge)

"If banks aren’t willing to lend to each other on an unsecured basis and more and more of the collateral is pledged, why on earth would anybody else take their risk?"

Barbara Ridpath, chief executive of the International Financial Centre of Regulation

(see Shrunk and disorderly: Why banks face a painful transition to a smaller future)

"What we’re witnessing here is a slow-motion bank run. And I see nothing out there that suggests it will stop any time soon"

Roger Doig, credit analyst at Schroders

(see Shrunk and disorderly: Why banks face a painful transition to a smaller future)

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