Jan

28

Gary pushes:

"Goldman Exec Wants More Regulation — of Hedge Funds, Not Banks"

Gary Cohn is concerned about under-regulation. The shocking thing about this is that Cohn is president and COO of Goldman Sachs — not exactly a proponent of regulatory overhaul. The not so shocking part about his view is that it refers to under-regulation of hedge funds and other businesses Goldman doesn't run…How many hedge fund managers do you think were rolling their eyes during this speech?…Well, at least one hedge fund manager at Davos told the FT that Cohn's remarks were "self-interested"

But hedgies push back:

Mr Cohn's speech has since drawn criticism from some of the hedge fund industry's most well-known names – including clients of the investment bank – which have interpreted his remarks as an attack on their activities…"These statements are just false. Hedge funds are regulated. We didn't cause the financial crisis. We didn't take bail-out money," Richard Baker, the president and chief executive of the Managed Funds Association, the industry's main trade association, told the Financial Times…"


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