So far, hedge funds have been able to avoid scrutiny in the wake of the financial crisis. But that may be about to change.

So says author Stephen Gandel in an article he penned for Time magazine.

Years from now the fraud charges facing Goldman Sachs will likely be long forgotten – but their legacy may live on – in the form on increased regulations – especially for hedge funds, according to Gandel.

As we first told you on Friday the SEC filed civil charges against Goldman alleging that the firm did not tell investors "vital information" about a financial instrument made up of subprime mortgages -- including the fact that the hedge fund run by John Paulson was involved in choosing which securities would be part of the portfolio.