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.

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Biloxi Sun Herald- The Senate voted Tuesday to move ahead with a Democratic plan to curb speculation in oil markets that has been blamed for some of the recent run-up in oil prices.

The 94-0 vote clears a procedural hurdle for the legislation, which would require the Commodity Futures Trading Commission to set limits on trading in oil markets by investors and speculators.

Despite the big tally, however, the rival parties are bitterly divided on how to address high gasoline prices and an underlying stalemate remains in place.

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