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"I have had hedge fund managers literally in tears on the phone," said one London-based analyst yesterday. Others likened the Porsche disclosure to a "nuclear bomb going off in our faces", describing the resulting losses as "a bloodbath".
Originally posted by 44soulslayer
Porsche didn't do anything illegal...
After a month in which Gordon Brown and other political leaders have called for an overhaul of global financial regulation, the Porsche affair has rammed home the point that, now as never before, the world needs a new financial policeman to make sure everyone plays by the same rules.