Like a hound dog thrown off the scent, Henry Waxman of the House Committee on Oversight and Government Reform is busy barking at hedge funds and the hedge fund industry while the real criminals escape. Hedge funds didn’t cause the financial crisis the world is facing. Making them report their holdings, their strategies, and their wallpaper patterns won’t cure this crisis or prevent another one. I dislike hedge funds as a class, although there are surely some good ones. Many gamble. These funds arise and disappear with startling rapidity as they gamble and lose. They sell themselves as providing strategies … Continue reading Hedge funds as whipping boys