Hedge fund friend turns critic

The chairman of the Senate Finance Committee said Monday, Oct. 16, hedge funds should be required to make more information about their operations publicly available, particularly in light of high-profile collapses in the industry recently.

'Tens of millions of Americans may be unwittingly exposed to hedge fund investments through their participation in public and private pension plans, and yet would have no way of knowing it,' Sen. Charles Grassley, R-Iowa, wrote in a letter to Treasury Secretary Henry Paulson.