Admit it: You're bummed that the Bear Stearns fraud trial has ended in a flash of prosecutorial incompetence and 12 potential clients for Ralph Cioffi and Matthew Tannin. We are, too. But fear not, friends, there's an embarrassment of hedge...

A Petters fraud feeder fund, Palm Beach Capital Management with $1.6 billion of assets, is rushing to protect its asses before investors and regulators take a piece of the fund managers' hide. On Thursday investors in Bruce Prevost and David...