Hedging their bets

Issue section: 

They leech off the system, destroy public services, and bring unemployment and now they're threatening to come to Britain. But this is one group of migrants to whom the gutter press won't be devoting the front pages - hedge fund managers.

At a US congressional hearing over their business practices, George Soros, Kenneth Griffin, Philip Falcone, Jim Simons and John Paulson claimed that any "knee-jerk" regulation may lead to their sort taking their business to unregulated London.

They are presumably as worried about the crisis as the rest of us. Despite their combined wealth of some £20 billion they manage to pay proportionally less tax than a US school teacher.