At the end of last week, Senators Grassley (R-IA) and Levin (D-MI) introduced “The Hedge Fund Transparency Act”...
This is what it is - it's all part of an investment theme that we have long held which is simply that all that is not well in American finance will end in regulation and litigation.
Congress has already summoned the bankers who have TARP moneys to appear in Washington next week. Asset managers will definitely have their turn on the hill. This cleansing of our economic system will take time. Look for the principles of Transparency and Accountability to become ring tones at America’s kitchen table.
Keith R. McCullough
CEO / Chief Investment Officer