MSN MoneyCentral – Phil Goldstein, the activist hedge fund manager whose court challenge forced the Securities and Exchange Commission to abandon its plan to force hedge funds to register, has abeef.
“Where were all the other guys?” he asks. “Where were all the hedge funds who didn’t want registration forced on them? Why didn’t they come in with us?”
Mr Goldstein says he approached several big players, as well as the hedge fund trade group, the Managed Funds Association, which consistently opposed compulsory registration. But he could not get anyone to join him in the court action.
Mr Goldstein and his partners at Bulldog Investors forked out $300,000 of their own money to launch the action, which scuppered one of the SEC’s most controversial proposals in recent history when the court ruled against the plan.
