George Soros blamed government regulations for a decision to scale back his roughly $25 billion hedge fund. Now, a U.S. senator is calling out Soros for being a flip flopper.
The billionaire investor this week said his hedge fund will stop taking money from outside investors. The move allowed Soros to avoid a new level of regulatory oversight facing many hedge funds under last year’s Dodd-Frank financial overhaul law.
Under Dodd-Frank, some hedge-funds will be required by March to register with the SEC, and to turn over more data about their investments and trading positions to the government.