Desperate hedge wives

Spare a thought for those poor hedge-fund wives in New York who've fallen on hard times.

We tend to take our pleasures for granted. If they're suddenly taken away, the experience of missing them can be more acute than the enjoyment we had in the first place. So spare a thought for those hedge-fund wives in New York who've fallen on hard times: "desperate hedge wives", as The Times calls them.

There are quite a number. Almost half New York's 1,000 hedge funds have disappeared. Around the world, 10,000 hedge-fund workers lost their jobs last year and a further 20,000 are expected to be out of work. An industry once worth $1.9trn is now worth half that.

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