That sigh of relief you hear comes from Wall Street's northern neighbour, green and leafy Connecticut, where many of the US's estimated 9,000 hedge funds reside.
This lack of desire to impose strict regulations would at first seem to originate from a pro-business Congress and the Bush Administration. This is wrong. Congress and the Bush Administration have another reason for this cautious approach: they have little knowledge of the behaviour and methods of hedge funds.
This ignorance is not un
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