Managers Defend Hedge-Fund Industry At House Hearing
Professor Joseph Bankman is mentioned in an article in The Wall Street Journal about a House Hearing discussing the need for tighter regulations of hedge funds:
Hedge-fund managers are defending their industry at a congressional hearing Thursday, testifying that hedge funds didn't cause the current economic crisis and some saying they shouldn't be subject to stricter regulation in the future.
However, experts on a panel of witnesses argued that regulators need to tighten oversight of the $2 trillion industry, with onecalling for tax increases on the industry.
Stanford law professor Joseph Bankman argued that the taxation of carried interest was neither fair nor efficient.