The world's markets gambled on financial alchemy. They lost.
COME BACK Karl Marx, all is forgiven. Just when everyone thought that the German philosopher's critique of capitalism had been buried with the Soviet Union, suddenly capitalism reverts to type. It has laid a colossal, global egg and plunged the world economy into precisely the kind of crisis he forecast. Hedge fund managers of the world unite, you have nothing to lose but your bonuses, writes Iain MacWhirter in The Sunday Herald