“The Justice Department has launched an investigation into whether hedge funds might have banded together to drive down the value of the euro, people familiar with the matter say.”
Enough! Look I’m no big fan of zero sum bets, but that’s the state of play. It is totally absurd that the government is getting involved in private enterprise like this. Ultimately, this is a small group of folks running a whole lot of private money (much of which is from the pension funds that made these absurd promises) trying to get return for their investors. Fact is Europe is a mess, so is the US and in fact so is China. The only place that isn’t is probably Africa and the Middle East and that’s just because they don’t have any social stability off of which to make a levered bet.
The network economy is destroying industrial practices and business models. Transition sucks, but that’s the fact of our current 1st world business/society life. The fundamentals suck and that is the fault of governments and citizens who refuse to stop overpromising.
