In response to CD's question, I thought I dig up an oldie but goodie:  Read more 

Another good catch from S&M . With the looming invasion of Iran the markets are going to be devastating to the genral public.

Hedge funds can arrest the development of whole economies, and they have the potential to crash the financial system. It has almost happened before. In 1998 the Fed persuaded the “Fourteen Families” (an apposite Mafia reference) of Wall Street - the major banks - to cough up money for a $3.6bn bailout for Long-Term Capital Management, a hedge fund whose bets went wrong. The Fed said at the time that LTCM’s failure had been abrupt and disorderly and had posed “unacceptable risks to the American economy”.  Read more