Sep. 13, 2007 (LPAC) - It is beginning to dawn on some Congressmen and other elected officials that it is ridiculous to take orders from the hedge funds - they're bankrupt! Lyndon LaRouche added that the hedge funds should be ridiculed, and anyone who is AFRAID of the hedge funds should be ridiculed. There is no need to construct an argument, to go through facts about this or that hedge fund which is going under - the entire hedge fund STRUCTURE is bankrupt and can not, and should not, survive. For a bank to lend money to a hedge fund today is an act of insanity.

On that note, we have updated, with great pleasure, the "kiss your ass goodbye" list, with the following suckers:

* Goldman Sachs' Alpha Fund, one of the largest hedge funds, lost one third of its value in 2007, with a 22.5% drop in August, mostly from yen carry trade operations in Austrlia. With the withdrawal date of Oct.1 (when hedge fund investors can withdraw their money) fast approaching, Alpha Fund has been notified that it will be losing about $1.6 billion of its capital.

* Red Kite Metals, the world's largest hedge fund speculating in metals, dropped 20% in August.

* KKR has postponed the sale of loans to finance their $26 billion takeover of First Data, as the banks are unable to find anyone to re-purchase this junk. This is being watched as a benchmark for the $350-450 billion in other outstanding LBO's which are falling apart - including KKR's $32 billion TXU gambit.

* Two hedge funds operated by London-based Wharton Asset Management applied to delist Thursday from the Irish Stock Exchange, after they suffered heavy losses in asset-backed securities and after investor redemptions. One of the funds, Y2K Finance, stopped all withdrawals after losing 19.7% over the past five months.