22 Mar 2009

My Prediction Coming True Moments After I Make It

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In the previous post, I said it would not be hard to imagine the government taxing the heck out of hedge funds that hadn’t taken a dime of bailout money. Well, von Pepe just sent me this NYT article that contains the following ominous paragraphs:

WASHINGTON — The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.

The outlines of the plan are expected to be unveiled this week in preparation for President Obama’s first foreign summit meeting in early April.

Officials said the proposal would seek a broad new role for the Federal Reserve to oversee large companies, including major hedge funds, whose problems could pose risks to the entire financial system.

Von Pepe’s only comment: “It’s over.”

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