Germany is pushing major economic powers to develop a plan to mitigate risk to the worldwide financial system posed by the rapid growth of hedge funds, but it probably won’t be ready when world leaders meet this summer, the country’s finance minister said Thursday.
Finance Minister Peer Steinbrueck made clear that Germany – which took over the presidency this year of the G-8 group of highly industrialized countries – isn’t advocating that countries regulate hedge funds. Instead, he would like countries to come up with ways that could make it easier for investors and others to obtain information about these secretive investment vehicles.
