Is the SEC attempting to empire build with its calls to regulate the hedge fund industry? That is what the WSJ argues in an opinion piece Monday. The article also warns that private equity funds and venture capitalists would be next if hedge funds fall under SEC oversight.

"The distinction among these financial vehicles is murky, which means it would only be a matter of time before the SEC asks to bodysearch all of them, too," argues the WSJ in "SEC Crime Spree".

The article also attibutes some petty motives to those at the SEC: "But with more oversight comes greater job security and more Congressional cash. Rather than temper this bureaucratic impulse, Mr. Donaldson seems willing to go along for the ride."  

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