Hedge funds were once the poster boys for bad financial behavior, but as the TARP drama unfolds we have heard less about them. Still, the issues regarding funds have not gone away. Jim Cramer has certainly done his part to keep alive the notion that hedge funds are rogues.

When Congress gets to work in 2009, we may see some reform efforts aimed at the industry. Will the government try to lower the boom and really remake the industry? Well, an interesting email has surfaced--an email from none other than former Lehman Brothers CEO Richard Fuld. He wrote that Henry Paulson wants to "kill the bad HFnds + heavily regulate the rest." The email surfaced via Congressional investigators. Does this portend some big-time regulatory activity? Some think so. We'll see.

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