Regulators and Legislators Slam Hedge Funds In Wake Of Amaranth Fiasco

Sep 30 2006 | 9:02am ET

Regulators from China to Australia to New York are calling for action, and politicians in Washington are calling for heads, in the aftermath of the Amaranth Advisors debacle.

In the wake of the collapse, hedge funds may have made some new, formidable enemies in the Federal Bureau of Investigation and Federal Reserve Bank of New York. FBI Assistant Director Chip Burrus called hedge funds “an emerging threat” as pension funds become more involved, and said “people that aren’t expecting to have this type of a risky investment in their portfolio end up taking a bath.” He promised that the Bureau would protect investors who “get fleeced left and right.”


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