House Hearings on Hedge Funds’ Role in the Financial Crisis

The heads of five of the most successful U.S. hedge funds testified on November 13 before the House Committee on Oversight and Government Reform.  In the course of the hearings, Committee members evidenced concern about systemic risk posed by hedge funds, and expressed interest in greater government oversight of hedge fund operations, investments and taxation.  The hearing offered a foreshadowing of heightened government scrutiny that hedge funds are likely to face when the 111th Congress convenes in January under substantially increased Democratic majorities in both houses.

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