Hedge Funds, Derivatives, Credit Default Swaps… to regulate, or not to regulate. That is the question.

And so, the big wheels have turned.

It just seems that they turned away.

What can be said when a significant part of the financial system was nothing more than a mere shambles, a veritable house of cards built upon shifting sands, a shell game all without any regulation or oversight – and certainly no rules.

Need we have rules of engagement, of operation, of compliance to honesty, integrity and ethics?

But of course, yes!

But why?

Need we ask why?

Battle lines forming between MF Global customers, hedge funds

By Nick Brown and Katya Wachtel

Fri Feb 24, 2012 2:36pm EST

(Reuters) – The MF Global saga could soon become a legal battle between hedge funds and the futures brokerage’s shortchanged customers, with more than a billion dollars at stake.

As the investigation into the collapse of