EUROPEAN VALUES

摘要

U.S. and european regulators have prescribed notably different remedies to help their economies recover. With Europe finally on the mend, perhaps, a region that had been a feeding ground mainly for credit and distressed hedge funds is looking increasingly attractive to long-short equity managers. Through the Troubled Asset Relief Program and other initiatives, the U.S. forced highly leveraged banks to take their lumps, write down their assets and move on. Then the Federal Reserve Board flooded the economy with easy money by purchasing bonds, sending the stock market soaring even as cautious companies hoarded cash. The result has been a market rally and mounting fears over what will happen when the Fed begins to taper its bond-buying program.