Globe and Mail- Hedge funds have turned into the market’s favourite scapegoat, blamed for just about every conceivable ill wind blowing through the global economy, from skyrocketing energy and food prices to the woes of Wall Street investment banks, the mortgage mess and speculative assaults on the Icelandic krona.
Just this week, the ever-vigilant folks at the U.S. Commodity Futures Trading Commission went public with the news that they have spent months looking into whether there has been any illegality in the rapid runup of crude oil prices. They need look no further than the profiteers who run OPEC for their answer. But chances are they hope to unmask an evil schemer sitting in front of a computer screen in a non-descript office somewhere.
So far, they haven’t had any luck.
