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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Hedge Funds Cutting Fees | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="cUZRE8qFZV"&gt;&lt;a href="https://www.nakedcapitalism.com/2009/05/hedge-funds-cutting-fees.html"&gt;Hedge Funds Cutting Fees&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2009/05/hedge-funds-cutting-fees.html/embed#?secret=cUZRE8qFZV" width="600" height="338" title="&#x201C;Hedge Funds Cutting Fees&#x201D; &#x2014; naked capitalism" data-secret="cUZRE8qFZV" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>I recall in the mid 1980s when people who should have known better (McKinsey consultants and analysts covering the banking industry) were adamant that banks would never cut their fees or interest rate charges (19.8%) on credit cards. I remember thinking of the confidence over credit card pricing every time experts insisted that hedge funds [&hellip;]</description></oembed>

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