In my column today on Chuck Schumer’s financial, professional, and legislative relations with the hedge fund lobby, I made a regretful omission. While I described two positive, big-government benefits hedge funds get from the financial bill, I left out other important reasons the hedge funds could like the bill: it does not include a proposed tax hike on fund-manager pay; it does not include more stringent regulations, which have been proposed, and which could seriously cramp hedge funds’ business.

I specialize in covering regulatory robbery, and sometimes I skip over the type of lobbying efforts I think the rest of the media cover amply — when business lobbies to be left alone. I didn’t mean to imply hedge funds’ agenda was entirely a Big Government agenda.