MSNBC – Hedge funds are being offered a sweet deal to help the Obama administration rescue the U.S. banking system: A low-risk opportunity to scoop up soured bank assets that could one day make them a killing.

But the deal could make for an uneasy partnership.

The government also wants to closely police hedge funds, some of which have been accused of placing irresponsible bets that helped trigger the financial crisis. Such regulatory overhaul could reshape an industry known for secrecy and little oversight.

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Tags: bank assets, banking system, bets, financial crisis, msnbc, oversight, partnership, risk opportunity, secrecy, sweet deal

Denver Post – Hedge funds are being offered a deal to help the feds rescue the banking system: A low-risk opportunity to buy bad bank assets that could one day make them a killing.

But the deal could make for an uneasy partnership. The government also wants to closely police hedge funds — large investment pools that cater mainly to the rich — some of which have been accused of placing irresponsible bets that helped trigger the financial crisis. Such regulatory overhaul could reshape an industry known for secrecy and little oversight.

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Tags: bank assets, banking system, bets, denver post, feds, financial crisis, investment pools, mdash, oversight, partnership, risk opportunity, secrecy