THE HEADLINE of your cover story about the financial crisis asks, “How bad will it get?” (Special Report, Dec. 8). Here’s how bad it will get. I won’t be able to buy lottery tickets anymore. I won’t be able to buy that big house I’ve often dreamed of. I’ll have to eat at home and wear clothes from last year.
As is so often the case in the complicated and opaque world of hedge funds, it is not yet entirely clear what happened at Sextant Capital Management. But if the allegations levelled by the Ontario Securities Commission are accurate, it went something like the plot of a Dan Ackroyd movie from the ’80s.
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