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Hedge funds bank on new bank rules

May 3, 2010 : Permanent Link

Crain’s – Financial reform, which is hurtling down the tracks to become law, may succeed in forcing banks to curtail some of their riskier activities—but be careful what you wish for. The debate’s focus on banks has drawn the spotlight away from hedge funds. Remember them? Those “lightly regulated” pools of money were public enemy No. 1 last year, members of an elite gang with a Ponzi-scheme-a-week habit. But beating up on hedge funds fell out of favor after politicians found better-known targets to turn on, like Goldman Sachs, Citigroup and Bank of America.

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