This is always a fun Sunday read;

"There's been some interest in the media recently on hedge funds, and that would be a good example of an emerging threat that we would want to talk about and ensure that we are handling,"............

"The head of the Bush administration's task force on corporate crime is taking a strong stance on hedge fund regulation and investigation. Deputy Attorney General Paul McNulty said the potential for fraud in the $1.2 trillion hedge-fund industry poses an "emerging threat"

"When the Bush administration task force identifies an emerging threat, it usually will consider whether more regulation is needed and whether agencies investigating wrongdoing are properly coordinating their efforts and using their resources.".....