Hedge funds generally have great freedom in their investment strategies, including the ability to invest assets with other hedge fund managers, and funds and are notoriously lacking in transparency.

FORBES: Expert View

Fourth, these funds have lay boards of trustees lacking training in investment matters.

FORBES: Public Pension Shortfalls and Consultant Conflicts (September 1, 2002 )

In a report released earlier this month, Burton described the funds as suspicious and lacking enough documentation to conclusively determine their origins.

CNN: Burton asks FEC to review Democratic funds

Japan was almost completely lacking in U.S.-style self-correcting mechanisms--namely, the vulture investors, hedge funds, buyout giants and others who wait decades for a chance like this to pounce on distressed assets and help the entire system snap back.

FORBES: Rewind