cannot become shadow (piggy) banks
Last month's Turner Review is an about-turn in the UK
Financial Services Authority's (FSA) policy on hedge fund
Lord Adair Turner, chairman of the FSA, has said that hedge
funds must not become "shadow banks". They need to be monitored
carefully for their influence on banking stability and the
regulator should have power to act if the market is threatened.
In the short to medium term, this means the FSA...