Regulations on Hedge Funds
More Regulations For Hedge Funds
I don't hedge funds will face too much additional regulation but there surely are many individuals asking for it. Here's an article on this topic:Henry Waxman, chairman of a House committee investigating the causes of the global credit crisis, called for more regulation of hedge funds and rating companies.
``We do have to have much more government oversight and involvement than we've seen in the last decade or so,'' said Waxman, a California Democrat.
``A lot of people didn't either know what they were getting into or much care because they weren't going to be the ones holding the bag,'' Waxman said in an interview on Bloomberg Television's ``Political Capital with Al Hunt,'' airing today.
Hedge funds need regulation ``to make sure the incentives are right for them and others to do the right thing,'' said Waxman. ``Certainly we need more transparency.''
His House Oversight and Government Reform Committee will take testimony next month from representatives of hedge funds and from Freddie Mac and Fannie Mae, the biggest buyers of U.S. mortgages.
On the federal bailout of insurer American International Group Inc., Waxman said any new loan would have to come with conditions. Edward Liddy, named as AIG chief executive officer after the bailout, yesterday said the company might need more than the $122.8 billion in loans already promised.
House investigators discovered this month that AIG executives were spending hundreds of thousands of dollars on retreats. The company has canceled future events. Source
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