Chuck Schumer actually said...

"These private pools of capital are responsible for huge transfers of capital and risk, and so examining these industries and potential regulation are extremely important to this Subcommittee."

"I have called this hearing to explore another key aspect of such reforms, the regulation of hedge funds and other private investment pools."

"Shouldn't private investment funds be required to disclose information to the SEC for the purpose of investigating and enforcing antifraud rules?"

"Thank you for your leadership."