September 15, 2006
To D.C., To D.C. Ahoy!
Why are hedge fund managers pumping in millions into the political game in Washington? The reason’s not far to seek – one thing you must admit about hedge fund managers is that subtlety is not a priority with these guys. So when there was a hustle and bustle in the power circles and a few powerful guys (Securities and Exchange Commission) cleared their throats and delivered what they thought was a solution to combat the ‘Big Issue’, hedge fund managers decided to show their might in the only way they knew.
The biggest problem is that they’ve become too visible. Hedge fund managers have emerged as players on this scene due to their rapid growth -- assets under management have doubled in the past five years. Worried, SEC adopted a rule forcing many hedge fund advisers to register with the investor protection agency and submit to occasional inspections. Only to be beaten by a federal appeals court. But this was enough for the hedge funds, which are now trudging the beaten path to power circles. Guess it’s time to sit back and enjoy what promises to be a long drawn battle of equals (?)
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