Australia blows up the hedge funds

ASIC’s dramatic decision to ban all forms of short selling for at least 30 days will mean the end of hedge funds and securities lending. The move takes the unpredictability of the credit crunch to a whole new level.

Australia’s stunning ban on all short-selling is a revolution that will likely flow around the world in a series of dominoes from tomorrow.

The global hedge fund industry will effectively be shut down overnight.

The business of securities lending will also shut down.

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