For all the hand-wringing about hedge funds and complicated derivatives, the real worry comes from a well-known source-the Banks.

尽管人们对于对冲基金和复杂的衍生工具已感绝望，但真正的忧虑来自一个众所周知的源头——银行。

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Dealbook is reporting that Kinnucan, who refused to wear a wiretap for the Fed (and wrote all his hedge funds friends about it) received a subpoena from the FBI this morning.

FORBES: FBI Hits John Kinnucan With Subpoena

That investor had discussions with the hedge fund about the picks, but was not at all bound to take the hedge funds suggestions and even turned down some of the securities the hedge fund wanted.

FORBES: Commentary

At present, about 1-2% of all investable money is parked in hedge funds.

ECONOMIST: Hedge funds