As much as it is despised by all in the industry, it is likely that hedge fund regulation will be coming to the U.S.  Today the House Oversight Committee interviewed three very important regulations as part of an examination into the role of federal regulators in the current financial crisis.  Congress will interview Former Federal Reserve Chairman Alan Greenspan, Former Treasury Secretary John Snow and SEC Chairman Christopher Cox.  Hopefully these three will be able to stem the rising tide of hedge fund regulation rhetoric and help congress to realize that hedge funds are not the problem.

From the House website:

Committee Holds Hearing on the the Role of Federal Regulators in the Financial Crisis
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The Committee is holding a hearing titled, “The Financial Crisis and the Role of Federal Regulators” at 10:00 a.m. on Thursday, October 23, 2008, in 2154 Rayburn House Office Building. The hearing will examine the roles and responsibilities of federal regulators in the current financial crisis.

From the SEC website:

Chairman Christopher Cox to Testify

Chairman Cox will testify before the House Committee on Oversight and Government Reform on Thursday, October 23, 2008, at 10:00 a.m. at the Rayburn House Office Building, Room 2154, concerning “The Role of Federal Regulators”.