The third quarter is off to a vocal start for some of the world’s top hedge-fund managers, who are weighing in on everything from “stumbling” European governments to “dumb” internal bank trades and “Kafkaesque” domestic financial regulations.

The legendary hedge-fund manager Louis Bacon, who founded the $15 billion money manager Moore Capital two decades ago, made news Wednesday morning with an announcement that he’s returning $2 billion from his flagship fund, Moore Global Investments, to investors.

But perhaps more remarkable is his assessment of global markets, which he says have been rendered dysfunctional by a combination of “inchoate” financial regulation, consequently frightened banks and consumers, and government “brinksmanship.”

Read More: CNBC