Hedge funds ready to collapse despite Fed's help

Several hedge funds with assets exceeding $4 billion have halted withdrawals or are on the verge of failing, despite the Federal Reserve's drastic action to ease the credit crisis. A leading private equity executive said funds are "snapping like twigs." Meanwhile, the chief business officer of Freddie Mac is predicting that the Fed's $200 billion collateral lending facility will not solve Wall Street's credit crisis.

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