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Reply #25: Here's the link to that discussion from the General Discussion Forum: [View All]

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The Backlash Cometh Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-09-07 01:00 PM
Response to Reply #22
25. Here's the link to that discussion from the General Discussion Forum:
Edited on Fri Mar-09-07 01:04 PM by The Backlash Cometh
Officials Reject More Oversight of Hedge Funds

The Bush administration said Thursday that there was no need for greater government oversight of the rapidly growing hedge fund industry and other private investment groups to protect the nations financial system.

Instead, the administration, in an agreement it reached with the independent regulatory agencies, announced that investors, hedge fund companies and their lenders could adequately take care of themselves by adhering to a set of nonbinding principles.

The principles, many already being followed by the sharpest investors and best-run companies, say that investors should not take risks they cannot tolerate and should carefully evaluate the strategies and management skills of hedge funds. They also call for funds to make clear and meaningful disclosures to investors.

The decision came after months of study by a presidential working group of top officials and regulators. They looked at both the hedge fund industry, which has more than $1 trillion in assets, and the management of private equity firms, which take direct control and ownership of companies rather than relying on large numbers of outside stockholders.


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