There have been rumblings in Congress about making hedge funds and private equity more transparent, but to date there’s been little headway. Now, before there’s no one left to report on it, it’s time to ask whether private equity and hedge funds should be allowed in the news business at all.
If hedge funds remain in the news business, they need to be fully transparent. Stakeholders—employees, readers, and the general public—need to know their investors, their managers, and their corporate governance. Likewise, if hedge funds remain in news, they need to be located in the United States. There is a good reason campaign finance laws prohibit donations from foreign nationals. The same should be applied to news.
Can’t allow any foreign capitalists to tell us the baseball scores after all.