Should the government regulate pension investments in hedge funds?
I have limited jurisdiction over that because the pension funds are under Erisa [Employee Retirement Income Security Act], which is in the Education and Labor Committee. They are talking about some kind of safeguards. I do believe that the hedge funds should be among those entities that are not allowed to get too leveraged, and I believe that they should be required to register with the Securities and Exchange Commission. And give data on how much leverage they are using? Well the SEC wouldn’t be primarily [overseeing] the leverage thing — they would be an investor and consumer protection entity. The systemic risk regulator would be looking at leverage with them as with any other entity. So a systemic risk regulator would have access to the amount of leverage that hedge funds are using. Any financial entity, yes. How is the government going to make investors comfortable investing in financial markets? Some investors say that the rules have changed a lot. What’s the timetable [on the r
