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From Kirsten Bischoff, Opalesque New York: On Thursday afternoon five hedge fund managers testified before the House Committee on Oversight and Government Reform:
John Alfred Paulson, President, Paulson & Co., Inc.
George Soros, Chairman, Soros Fund Management, LLC
James Simons, President, Renaissance Technologies, LLC
Philip A. Falcone, Senior Managing Partner, Harbinger Capital Partners
Kenneth C. Griffin, Chief Executive Officer and President, Citadel Investment Group, LLC
Each gave prepared testimony (each manager’s testimony available here) and then the group faced a barrage of questions and commentary from the committee which touched on subjects such as hedge fund regulation, Troubled Asset Relief Program (TARP), the unraveling of the economy, and marijuana legalization (yes, you read that correctly).
Hedge fund regulation
In “A New Regime: The Regulatory Climate for Hedge Funds” a newly released report by CPA firm Rothstein Kass, 98% of senior hedge fund managers reported that the Obama Presidential Administration is likely to increase the regulation of the hedge fund industry (Source).
The managers testifying seemed to also have come to the realization that regulation was imminent and the only determination now woul...................... To view our full article Click here
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