October 1, 1998 - Charles Gradante testifies before the House Banking Comittee on the collapse of Long Term Capital. Gradante addresses the fundamental concept of hedge funds, hedging, and what hedge fund investing is. "Have hedgefunds grown so large, and have they become so adventurous that they have added risk to the marketplace?" he asks. Do hedge funds represent systemic risk to U.S. and non U.S.markets? Gradante also mentions Muriel Siebert and her Muriel Siebert & Company.