Thursday, December 14, 2006, 12/14/2006 07:37:00 AM

Video Debate on Hedge Funds and Trade Secrets

Video from CNBC of hedge fund manager, Phillip Goldstein of Bulldog Investors, who is challenging the SEC's Rule 13F which requires quarterly disclosure of hedge fund holdings in certain circumstances. Goldstein says it's a government taking of his trade secrets which the government puts to no use while his competitors use it against him.

We've covered the story here, here and here.

Debating Goldstein is former SEC prosecutor, David Marder, who found the arguments in Goldstein's petition to be "pretty weak." He notes that the government takes all kinds of things from private parties.

Goldstein, however, notes in a sidebar to us that when the government is involved in a taking it must provide just compensation (under the Fifth Amendment).

Thanks for the tip on the video, Phil. Keep up the fight.

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