Vows on Capitol Hill to increase scrutiny of hedge funds have flared and just as quickly disappeared in recent years.  But now the faltering economy, combined with Democratic dominance in the November elections and unceasing news since of devastating blows to individual and institutional investors, have produced a decidedly different climate in Washington.  In a series of interviews, hedge fund attorneys and scholars told the Hedge Fund Law Report that the discussion has moved past the inevitability of increased federal monitoring of the hedge fund industry to more specifics about some of the possible regulatory steps.  We detail the current climate on Capitol Hill with respect to hedge fund regulation.