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  •  Caveat emptor! (6+ / 0-)

    February 22, 2007

    After 11 months of deliberations, a group led by U.S. Treasury Secretary Henry Paulson failed to recommend new regulations to govern the $1.4 trillion hedge fund industry.

    Instead, the President's Working Group on Financial Markets released only a vague set of guidelines and "principles" and left it largely up to banks, funds and the markets to sort out the details.

    Not surprisingly, Wall Street was delighted by the failure of the working group to act. "Too often, regulators reach immediately for new laws or rules which can have the unintended consequence of stifling innovation or smothering markets,” said Micah Green, co-chief executive of the Securities Industry and Financial Markets Association. "By instead providing principles and guidelines, the President's Working Group has recognized the importance of flexibility and efficiency in a healthy marketplace.”

    Same as it ever was...

    Would we be so happy to have a military that dwarfs all others combined if it was a line item deduction on our paychecks next to FICA."

    by Back In Blue on Mon Jun 11, 2012 at 07:24:20 AM PDT

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