Very interesting NYT article

[pelagius]

Originally Posted by SteelBlue

Roubini on the hedge fund crisis from a Thursday article:

http://www.bloomberg.com/apps/news?p...OSc&refer=home

Of course, hundreds of hedge funds will fail. The attrition rate for hedge funds is very high historically (the surprise is when hedge funds aren't failing). With the massive amounts of redemptions in October its hard to imagine that won't come true.

The second seems pretty unlikely but if it did that would sure make him into a first rate economic prophet. So it strikes me as well worth the cost of being wrong to predict a fairly unlikey event like that because if you turn out to be right you look very prescient and if your wrong your just another economist (we are wrong all the time).