Just in time for the debate over increased taxing and regulating of hedge funds, Jesse Eisinger has fetched up from the Wall Street Journal and Portfolio at the news non-profit ProPublica to write a super-long article attempting to blame a hedge fund for the financial crisis.
The article, like its target Magnetar, manages to be on both sides of the trade.
On one hand, the headline says, "How One Hedge Fund Helped Keep the Bubble Going," and it quotes one person identified flatteringly as a "prominent financial blogger" as saying of Magnetar, "If the world had been spared their cunning, the insanity of 2006-2007 would have been less extreme and the unwinding milder."
On the other hand, the article says, "the hedge fund didn't cause the housing bubble or the financial crisis."
So which is it?
