Many of the hedgers are ostensibly based offshore with little or no meaningful recognition.
Places like:
St. Vincent
British Virgin Islands
Turks and Caicos islands
St. Lucia
Cayman Islands
In reality the hedgers use bank accounts in Lichtenstein, Luxembourg, Switzerland, and Gibraltar while claiming legal domicile elsewhere.
However - it is possible to recover assets - the one thing the hedge funds fear is exposure to an accounting.
Monday, January 26, 2009
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