Dec 15: ANDREW FELDSTEIN on redemptions and Madoff

Part 1, December 15 2008: Andrew Feldstein, CEO and chief investment officer at BlueMountain Capital Management, talks to Chrystia Freeland, US managing editor, about the highly publicised call for redemptions at BlueMountain and how his company resolved the issue with investors. He says that investors will have to undergo a "reorientation of expectations" with regards to how hedge funds perform relative to other types of investments. Mr Feldstein also discusses the alleged fraud by Bernard Madoff, credit derivatives and leverage.