John Mauldin agrees with nemo:
More Thoughts on the Continuing Crisis - Thoughts From The Frontline
Treasury Secretary Hank Paulson put forth a number of “new” ideas for changes in the regulatory structures. Nothing I saw will help all that much in the current crisis. It’s more like re-arranging the deck chairs as the ship is going down. It seems like most of it is being proposed to prevent another crisis like the one we are in from occurring in the future. That simply insures that Wall Street will have to invent whole new ways to create a crisis in the future. I am sure they will be up to the task.
Mauldin also has a message for hedge funds that nemo may wish to comment on:
So, a quick note to my friends in the hedge fund industry. Forget fighting regulation and start negotiating. Recognize that regulations are coming and do what you can to make them as rational as possible. Also, make sure you (we) get the rights of other regulated funds, like the ability to advertise and not be so secretive, at a minimum. And maybe a more reasonable interpretation of the research analyst rules, which I note that many seem unaware of the implications on hedge funds and private offerings of the research analyst rules.
We are talking big, powerful, rich players here. It’s going to be interesting to watch how this all turns out.
