There’s nothing better than dragging those who reportedly make $1 billion a year to Capitol Hill and parading them around for the whole cash-poor world to see, is there? (In medieval times, didn’t that used to be called getting locked up in the stocks?) In any case, if you missed out on any of the rotten tomatoes being thrown by members of the House Committee on Oversight and Government Reform yesterday (in the form of mostly idiotic questions) click here for the rundown of the showdown.

Five of the nation’s most highly paid hedge fund managers testified before a House committee on Thursday, as lawmakers turned their attention to what role hedge funds may have played in the recent financial crisis and whether these private investment pools may need stricter regulation.

The money managers appearing before the House Committee on Oversight and Government Reform earned an average of $1 billion each last year, Representative Henry A. Waxman, the California Democrat who is chairman of the committee, said in his opening remarks. They are Philip Falcone of Harbinger Capital Partners, Kenneth C. Griffin of Citadel, John Paulson of Paulson & Company; James Simons of Renaissance Technologies, and George Soros of Soros Fund Management.

Click here for the blog covering all the highlights of Thursday’s white-knuckle testimonies.

Continue reading on NYTimes.com

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