1) What are the differences between hedge funds and mutual funds? Specify the differences with respect to each of the following: A. Investors B. Regulation C. Fees for managers D. Risks and investment startgies.

2) Describe the differences between a private defined benefit pension plan and a private defined contribution pension plan. Describe the circumstances that have contributed to the projected Social Security insolvency? Describe some possible fixes for Social Security. For each possible fix, include in your discussion whether or not the possible fix is viewed as politically acceptable.