The New York Times on October 23 ran a revealing article concerning the U.S. economy by Louise Story headlined: HEDGE FUNDS' STEEP FALL SENDS INVESTORS FLEEING.  

Louise Story writes about the toppling of the new Gilded Age of American economics:

"The Gilded Age of hedge funds is losing its luster.  The funds, pools of fast money that defined the era of Wall Street hyper wealthy are in the throes of an unprecedented shakeout.  Even some industry stars are falling back to earth.

"This unregulated, at times volatile corner of finance -- which is supposed to make money in bull and bear markets -- lost $180 billion during the last three months.  Investors, particularly wealthy individuals, are heading for the exits.