Markets:

As more and more hedge funds become financial mosh pits we learn that many big banks cannot get out of these "hedges." Analysts say they may be stuck in them for as long as two years. Investors? WTF are they? An unrecognized problem is the complete secrecy of fund holdings. Nobody can spot a badly managed or too risky fund. The Long Term Capital Management fiasco failed to teach our brilliant leadership class anything and once again we face a serious financial problem. I guarantee that it isn't contained within the U.S. because these banks are all multi-national. Europe and Asia will also be affected. And China becomes one very serious situation. Thanks George.