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Timothy Carney: Regulate your way to riches

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Hedge funds, which have steadily increased their presence in Washington over the past year, dove headfirst into the swamp this month, hiring a former congressman as their industry’s top lobbyist. Rep. Richard Baker’s career path — from a subcommittee chairman trying to regulate hedge funds to the highly paid president of the Managed Funds Association — shows how lawmakers benefit themselves by...

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