You'd expect some strong opinions from a former Drexel
banker who runs a firm named Hegemony Capital Management, and
Michael Lewitt delivers, issuing monthly rants on the state of
Wall Street and the U.S. economy. Lately, he has been pushing
for increased regulation of the hedge fund industry while
quoting everyone from Adam Smith to Karl Marx.
But even as Levitt says hedge funds are overleveraged and have
in past years charged awfully high fees just for riding a
rising market, Hegemony has started...