Following the publication of the first proposed EU law on hedge funds, driven by the French and Germans, many London based fund managers have called for the directive to be altered otherwise they would abandon Europe. The debate has increased as Sweden embarks upon its EU presidency The Swedish Finance Minister suggested that the Swedish Presidency of the EU would not pursue "overzealous initiatives against hedge funds and private equity firms" and is hopeful of finding compromise between the UK on one side and the French and Germans on the other.European Commission: Hedge funds are high-risk private investment partnerships that make huge wagers on market movements and are suitable only for professional and institutional investors.Under the proposed law, managers of hedge funds and similar `alternative investment funds' that handle at least €500 million (€100 million for those using borrowed money) would have to register with regulators. They would also have to disclose information about their business, for example the extent to which they use borrowed money or financial instruments to boost potential returns.
The Swedish Finance Minister suggested that the Swedish Presidency of the EU would not pursue "overzealous initiatives against hedge funds and private equity firms" and is hopeful of finding compromise between the UK on one side and the French and Germans on the other.
"overzealous initiatives
...and then pretending to be impartial between extremes:
finding compromise between the UK on one side and the French and Germans on the other
LOL. Starvid claims the Swedish right-wing shed its neolib reflexes, but not so much, it seems. *Lunatic*, n. One whose delusions are out of fashion.
1) don't care about them
or
2) ready to compromise with everything, everyone and his grandmother so as not to make a fuss.
Don't take this as some kind of independent political stance. Peak oil is not an energy crisis. It is a liquid fuel crisis.
uly 15 (Bloomberg) -- A new financial crisis will develop from the failure to effectively regulate derivatives and the extra global liquidity from stimulus spending, Templeton Asset Management Ltd.'s Mark Mobius said. "Political pressure from investment banks and all the people that make money in derivatives" will prevent adequate regulation, said Mobius, who oversees $25 billion as executive chairman of Templeton in Singapore. "Definitely we're going to have another crisis coming down," he said in a phone interview from Istanbul on July 13. ..... Mobius didn't explain what he thought was needed for effective regulation of derivatives, which are contracts used to hedge against changes in stocks, bonds, currencies, commodities, interest rates and weather. The Bank for International Settlements estimates outstanding derivatives total $592 trillion, about 10 times global gross domestic product. Looming Crisis "Banks make so much money with these things that they don't want transparency because the spreads are so generous when there's no transparency," he said.
"Political pressure from investment banks and all the people that make money in derivatives" will prevent adequate regulation, said Mobius, who oversees $25 billion as executive chairman of Templeton in Singapore. "Definitely we're going to have another crisis coming down," he said in a phone interview from Istanbul on July 13. ..... Mobius didn't explain what he thought was needed for effective regulation of derivatives, which are contracts used to hedge against changes in stocks, bonds, currencies, commodities, interest rates and weather. The Bank for International Settlements estimates outstanding derivatives total $592 trillion, about 10 times global gross domestic product.
Looming Crisis
"Banks make so much money with these things that they don't want transparency because the spreads are so generous when there's no transparency," he said.
The Bank for International Settlements estimates outstanding derivatives total $592 trillion, about 10 times global gross domestic product. "Life shrinks or expands in proportion to one's courage." - Anaïs Nin
