EC politics put shadow banking in the spotlight

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BRUSSELS - "Concerning hedge funds, the group considers they did not play a major role in the emergence of the crisis," reported Jacques de Larosiere's high-level group on European Union supervision back in February. Hedge funds and the so-called shadow banking sector have received little blame for their part in causing the current financial crisis but their opacity has increasingly attracted regulatory and public ire as market turmoil has continued. The European Commission announced in its