Just as it took four years following the stock market crash of 1929 for the government to pass the Securities Act of 1933, regulators and the courts are dragging their heels on hedge fund oversight, MarketWatch writes in a column. Opponents to securities regulation in the 1920s argued that anti-fraud laws were adequate to regulate the stock markets and that no specific oversight was needed. Today, those who oppose regulation of hedge funds—which MarketWatch calls modern-day “Robber Barons—make the similar argument that the industry is doing fine on its own. “Decades from now, people will be looking back on us, as we do on the Roaring ’20s, scratching their heads and wondering why rules weren’t in place to protect investors,” MarketWatch opines. In fact, some believe a serious hedge fund blowup that will have global ramifications is in the offing. But at least one Senator, Charles Grassley (R-Iowa), has harkened back to the issue of hedge fund registration with the
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