Sunday, June 24, 2007

Amaranth Distorted Natural Gas Market, Evaded Regulators, Senate Reports

(Bloomberg) -- Amaranth Advisors LLC held natural
gas trades worth more than $18 billion and exploited loopholes
to evade regulators who tried to limit the firm's speculation on
its way to becoming the biggest-ever hedge fund collapse, a
Senate investigation found.

Greenwich, Connecticut-based Amaranth made trades that were
big enough to sway prices, in some cases controlling gas
contracts for a particular month equal to all the fuel consumed
by U.S. residential customers in the period, according to the
analysis by the Senate Permanent Subcommittee on Investigations.


Read more at Bloomberg Energy News

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