From the Cover

Securities & Investment

The Challenge of Hedge Fund Regulation

As other nations expand access to hedge funds, should the U.S. adopt tighter regulation?

The Mythical Benefits of Shareholder Control

Given the evidence that board governance benefits investors, why is there call for increased shareholder control of corporations?

A New Law for the Bond Rating Industry

Will recent reform increase competition?

Features

Antitrust

The Wright Stuff

When is aviation reform not really reform?

Risk

Stoking the Rigid Terror of Secondhand Smoke

The contrived "science" behind the surgeon general’s recent report does not support officials' claims.

Banking & Finance

Banking Regulation’s Illusive Quest

Far from requiring greater government oversight, U.S. banking’s woes have been the product of regulation.

The SBA’s Justification IOU

Does small business need government loan guarantees?

Mercatus Reports

Briefly Noted