Technorati tags: Senator Chuck Hagel, Hedge Funds"We need to take a look at what is responsible and appropriate oversight with regard to hedge funds," Hagel said in a statement in response to a question from Reuters. "This will require further Banking Committee hearings."
In May, Hagel's subcommittee held a general hearing on the rapid growth of hedge funds, which are lightly-regulated investment pools.
"Investors must understand the full risks and benefits associated with hedge funds. Transparency and openness are the cornerstones in protecting the interests of our investors and the integrity of our financial markets," Hagel said.
Tuesday, June 27, 2006
Hagel Calls for Hearing on Hedge Funds
Following the recent U.S. Supreme Court ruling dealing with hedge funds and the SEC Senator Hagel called for a hearing to examine the issue. The Washington Post reports:
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I'm not sure why hedge funds need regulation. I had hoped Hagel would resist the busybody tendency to want to regulate everything under his purview on the Banking Committee. This is one reason Senators have a hard time winning the Presidency.
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