The Million Mercedes March????

Dr. Vlado broke this over the phone to me. I am shocked that this actually happened.

Chanting "No Rate Cut, No Peace," the furious money managers were pepper-sprayed by police as their protest threatened to take a violent turn.

Mr. Klujian's words seemed almost prophetic as a mob of angry trophy wives looted a Ralph Lauren boutique in East Hampton, New York later in the day, stripping the establishment of its entire fall collection.

If the Fed fails to intervene, Mr. Klujian warned, an ugly situation among the nation's wealthiest money managers will only get uglier.

"A lot of these guys are mad as hell right now," he said. "But wait until they're down to their last billion."

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