"Geithner Warns EU on Hedge Fund Rules"

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Treasury Chief Timothy Geithner has warned Britain, France, Germany and Spain about possible new European Union rules that he fears could prevent American hedge funds from selling to European customers, The Associated Press reported.

Is there something wrong with American hedge funds? Their operators?

Maybe there's fire in all this smoke? Something Congress isn't fixing? Doing the right way?

Maybe hedge funds, are really legalized gambling with public money? Just say no to addicts?

Hedge funds have no social value? Just suck up money and leave misery in their wake?

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In a letter to the four finance ministers, Mr. Geithner said he understood that a draft EU law currently under discussion ”would discriminate against third country funds and fund managers by denying them the opportunity to access the EU single market.”

Maybe multiple sets of eyes are more discerning than one cyclops?

30 honest markets and their regulators are harder to corrupt than one?

Did the SEC in the US do a good job?

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Britain is also in favor of this ”EU passport” for foreign funds, but France is firmly opposed, with officials saying they do not want to throw open Europe’s doors to funds based in regions without tight oversight, such as the Cayman Islands.

Those pesky islands!

What is Congress in the US doing to close the doors to funds based in regions without tight oversight?

Maybe hedge funds are just a bad idea? Time to shut off the lights?

Why isn't Congress looking out for Main Street?

http://dealbook.blogs.nytimes.com/2010/04/08/geithner-warns-eu-on-hedge-fund-rules/

Maybe the EU is looking out for their citizens? Nations? Best interests?

Who are Congress and Geithner looking out for?

Anyone worried about prosperity for Main Street?