Sir, –Having been bombarded by the media about the financial calamity that is unwinding, there is one omission that stands out.

As far as I am aware not one hedge fund has had the courage to stand up and say that they had made a few thousand pounds by short selling.

If, as they say, shorting has not been responsible for the chaos and loss of thousands of jobs, it would be quite simple for them to explain their positions and clear their names.

In view of the resounding silence, I am left with the firm opinion that greed and cowardice are endemic in the hedge fund business and to liken them to pigs is a great insult to the latter.

JOHN ASHTON Quakers Lane, Richmond.