Notes

1Hedge funds hold a large part of other types of loan insurance. They account for 32 percent of credit default swap sellers and 28 percent of buyers, up from 15 percent and 16 percent in 2004, according to a British Bankers’ Association report, September 2006, cited in Shannon Harrington and John Glover, “Potential for Abuse of Credit‐Default Swaps May Lead to Regulation,” Bloomberg News, October 11, 2006. See also “Looking for Options,” The Economist, April 15, 2007.

2Joshua Roebke, “Mr. Feynman Goes to Washington,” seedmagazine.com, January 27, 2006.

3Alistair Barr, “Hedge Funds Have Biggest Gains since 2003,” MarketWatch, January 10, 2007.

4Sitaraman Shankar, “European Shares Gain 16 Percent in 2006,” Scotsman, December 29, 2006.

5Elizabeth Kelleher, “Dow Jones Stock Index Hits Record High, Again,” USINFO, January 12, 2007.

6Timothy F. Geithner, “Risk Management Challenges in the U.S. Financial System,” Federal Reserve Bank of New York, February 28, 2006, http://www.ny.frb.org/newsevents/speeches/2006/gei060228.html.

7Robert Schmidt, “FBI Promises Crackdown as Stock Option Cases Increase,” Bloomberg, September 26, 2006.

8Katherine Burton and Jenny Strasburg, “Amaranth's $6.6 Billion Slide Began With Trader's Bid to Quit,” Bloomberg, December 6, 2006. See also “A Fee Frenzy at Hedge Funds,” BusinessWeek, June 6, 2006.

9Amanda Cantrell, “Hedge Funds Launch, Close in Record Numbers,” CNN Money, March 1, 2006. See also Amy Borrus, “Is the Hedge‐Fund Party Over?” BusinessWeek ...

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