This is just one of our articles referencing the financial crisis, crash of the housing market, subprime, and more:

Hedge funds may also face scrutiny. Routine SEC inspections during the subprime crisis have uncovered cases in which investment advisers, including hedge funds, didn’t live up to pledges to implement risk controls, a person familiar with the findings said. Lapses include failures to vigilantly track asset values, cap leverage and avoid concentrating bets.

“We’ve had some very serious matters” surface during routine checks, Thomas Biolsi, an associate director for the SEC’s Office of Compliance Inspections and Examinations, told a legal conference on June 4, declining to elaborate afterward. “We’ve had some hedge-fund investors complain to us.”