How hedge funds shaped financial reform (Magazine Version)

An intensive lobbying effort, staffed by Washington pros, helped make the legislation less onerous

Lawrence Delevingne December 17, 2025

By Lawrence Delevingne On November 19, 2009, Brad Sherman, a Democratic congressman from California, shocked the hedge fund industry. In an amendment proposed to the financial reform bill that the House of Representatives was considering, Sherman added large hedge funds to the group

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