New York Times Blogs – After pouring money into Barack Obama’s campaign, what can hedge funds and their executives expect from the new president?

If history is any exmaple, says FINAlternatives, they shouldn’t expect a cuddly relationship.

Mr. Obama didn’t appear sympathetic to the industry on the campaign trail, the publication noted, calling John McCain the candidate of “Joe the Hedge Fund Manager,” a riff on McCain’s pledge to serve the “Joe the Plumbers” of the U.S.

And during his time in the Senate, FINAlternatives noted, Mr. Obama sponsored a bill that would have required hedge fund managers to set up anti-money laundering programs supervised by the Treasury Department. (The Treasury abandoned a similar proposal last week).

The president-elect has also backed tax proposals that increase the burden on hedge funds and private equity shops, the publication said.

Read Complete Article

Tags: arizona-senator-john-mccain, ashe, chief-executive, federal-election-commission, fund-managers, gores-group, housing-market, management-business, opponents, presidential-contender, redneck, stimulus-plan, theo, treasury-secretary