In testimony before Congress November 13, five hedge fund managers–each of whom made at least $1 billion last year–said that they would be willing to disclose more information about their hedge funds’ strategies to regulators, but not to the general public.
Kenneth Griffin, founder of the Citadel Investment Group, told Rep. Henry Waxman’s Committee on Oversight and Government Reform, however, that before hedge funds should be required to disclose more information, “a common language to describe derivatives is needed first.” George Soros conceded that while more oversight of hedge funds is needed, he warned of “going overboard with regulation.”