SEC's backward call against hedge funds

Can the Securities and Exchange Commission save us from ourselves and do we want to be saved? Sadly when it comes to hedge funds, the answer on both counts is no. The agency is in the middle of imposing a dramatic new limit on investing in hedge funds, at the time when the public is ever increasingly forced to rely on its own investing acumen to pay for retirement, health care and college tuition. It’s like banning ark building just before the flood or restricting diabetics access to healthy foods.

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