You've got to wonder how the hedge fund industry will fare under President Barack Obama. In some ways, hedge funds serve as a proxy for all of Wall Street. At times, the president-elect's populist appeal seemed to target Wall Street fat cats--directing a lot of attention to wealthy Wall Streeters who aren't paying enough taxes. And at one point, he tried to paint John McCain as the candidate of "Joe the Hedge Fund Manager." 

Rhetoric aside, he hasn't been a notable Wall Street regulatory reformist, notes FINAlternatives. But he has favored laws that would close off some tax benefits for alternative investment firms. He also supported laws that would require hedge funds to set up anti-money laundering programs. At the same time, he received lots of campaign contributions from the industry. My sense is that the most heated reform proposals will come from the House.

For more:
- here's the FINalternatives article

Related Articles:
Presidential futures favor Obama
Hedge funds favoring Obama?