Billion-dollar titans such as DB Zwirn and Polygon threw in the towel. Five of the best-paid managers endured a pantomime grilling by Congress. Authorities muttered about more regulation (even though it was the most regulated players in the financial markets, namely banks, that were going bankrupt in droves). Bans on short-selling removed funds' main mechanism for risk management, leading to an acceleration in the withdrawal of capital when the market needed it most. Redemptions flooded in, many of them from institutions that had over-committed to private equity and needed cash wherever they could find it.
DB Zwirn和Polygon等十億美元規模的對沖基金巨擘已經認輸。5家收入最高的基金經理受到了美國國會的調查。美國政府正念叨著要加強監管(儘管成批破產的,正是金融市場上監管最嚴格的機構——銀行)。賣空禁令使對沖基金喪失了主要風險管理手段,導致了在市場最需要資金時投資者加速撤資的情況。贖回大規模出現,其中許多來自於那些對私人股本承諾過高的機構,它們需要從任何可能的地方獲取現金。