During his first five months as president of the Managed Funds Association, the hedge fund industry’s main lobbying group, former Louisiana Representative Richard Baker was quick to express his willingness to work with Washington regulators (see Alpha, April 2008). But in mid-July, when the Securities and Exchange Commission abruptly imposed 30-day restrictions on short-selling — a practice critical to most hedge fund strategies — Baker was also quick to voice his displeasure.
“It
