English Speaking World United Against French, Germans
Once again a native English speaker — this time, an Irishman — is saving us from the French and Germans who want to regulate hedge funds out of existence. Other than the editorial board of the New York Times, none of the native English speakers I know wants to increase hedge fund regulation.
Quotes from the Financial Times interview with Charlie McCreevy, European Union internal market commissioner:
- “Hedge funds and private equity are good for the market. They have given greater liquidity, they have added shareholder value and they have helped the rationalisation and innovation of companies.”
- “Some hedge funds do millions of transactions every month. So I don’t know what they will be reporting, to whom and what the people who get these millions of reports would be doing with them.”
- “Some people – when they talk about this – what they really want to do is regulate them out of existence. Why? Because in my view they don’t want shareholder activism.”
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