SEC slammed over hedge fund 'wealth' test
Filed in archive Hedgetalk on February 13, 2007
This is from CNN Money;
"Everyone, from politicians to the press, both here and abroad, has been shrieking in increasing apocalyptic terms about the myriad dangers that big, bad hedge funds pose to poor, small investors."
"Why not protect those poor, small non-accredited and presumably unnatural people from themselves?"
Heh, heh, here are some answers from those "unnatural people"
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Response from:
Anonymous
(08/19/08 1:45pm)
Because of the lack of regulations and transparency for hedge funds, it is an easy mechanism for fraud, and yes, the less sophisticated and most vulnerable are targeted. It is the SEC's job supposedly to protect investors and to not allow corruption to destroy the US financial system. Apparently, more regulation is needed, based on the propensity of hedge fund fraud and the current state of deterioration of the US economy.
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