Hint, hint. This would be an ideal time for Geithner to start working closely with the EU to implement similar oversight or even propose additional changes. It's in the best interest of everyone to have a common policy in light of the current crisis. Who knows, maybe Switzerland will even want to join in the fun.
The European leaders of the Group of 20 called Sunday for more transparency and regulation of all financial markets, products and investors, including hedge funds, according to published reports.
Heads of state and finance ministers from France, Germany, Italy, the Netherlands, Spain, the United Kingdom, the Czech Republic and Luxembourg met in Berlin to come up with a European position ahead of the G20 summit in London scheduled for April 2.
"There was a consensus ... that all financial markets, products and participants -- including hedge funds and other private pools of capital which may pose a systemic risk -- must be subjected to appropriate oversight or regulation," a summary of the meeting said, according to The Wall Street Journal.
