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News comments:
GAIM. About as interesting as this:









So you are thinking about setting up a fund in Cayman. This is why us hedgies love the place (hedgefundsreview). Not that Ernst & Young care. Despite being the auditors to more hedge funds than anyone else, their time maybe finally over. Like Andersens and Enron, they are close to the BP business model of failure. All thanks to Lehman (cityam)

Today's shorts:
Parking For Dummies (tpa)
EUR Back In Fashion (bloomberg)
UK Private Equity Dead In The Water (bloomberg)
Lender Of Last resort To The Spanish Banks (ft)

Today's longs:
Hedgies Back To Being Big (globalpensions)
Spain Goes On Strike (bbc)
EU to Ban Trading (euractiv)

Gossip:
Ernst & Young to be dead and buried Andersen style by September 2010.