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After the last month's turmoil, it finally seemed this past week that things were back on track: Paulson and Bernanke worked their magic; the Dow resumed its ascent toward 36,000. Matthew Lynn at Bloomberg rains on the parade: Buyout and hedge funds will still fail. "The dog didn't bark," he writes. "That doesn't mean it won't." Buyout and hedge funds will simply not have access to the credit that they need to leverage investments, and new regulation will preemptively burst the asset bubbles that they are particularly good at exploiting. And, of course, there will be collateral damage to industries that those firms bought into, such as retail and food manufacturing.