Check out this quote from the October 21, 1968 New York magazine:  The Hedge Funds:  Wall Street’s New Way to Make Money, by Peter Landau:

[Hedge fund managers] are deeply worried about attracting any further attention in Washington: the SEC is already taking a long, careful look at the hedge fund phenomenon. An even tougher problem is the fact that the Internal Revenue Service could change the provision in the tax laws that makes a hedge fund manager’s 20 percent fee taxable at capital gains rates.

Cf. Ecclesiastes 1:9 (NIV):  "What has been will be again, what has been done will be done again; there is nothing new under the sun." (Hat Tip:  PercyWalker.com.)