Did Mayfair hedge funds play fair by short-selling HBOS shares?

Times Online – Why did HBOS need to be rescued by Lloyds TSB? Where should the finger of blame point?

For many, the answer is clear – Mayfair.

The streets of London W1 house some of the world’s biggest hedge funds, which now stand accused of bringing HBOS and other financial institutions to their knees.

Their weapon? Short-selling, the process of betting that a share price will fall.

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