Saturday, 20 September 2014
Last updated 1 day ago
Oct 1 2010 | 3:36am ET
Its obituary has been written many times, only for the proposed tax increase on performance fees earned by alternative investment fund managers to rise from the dead. But, for the time being, another obituary is in order.
Lawmakers yesterday left Washington, D.C., without passing a provision that would close the so-called “carried interest” loophole. Under said loophole, hedge and private equity fund managers pay only the capital gains rate on their share of their funds’ profits, rather than the ordinary income rate, which is more than twice as high.
Democrats have sought to pass the measure for several years, and Treasury Secretary Timothy Geithner threw his weight behind the proposal earlier this year. But despite concessions made in the Senate version of the bill, Republicans held fast against it, killing it once again.
It is considered unlikely that Congressional leaders would seek to force the tax hike through after November’s election, when Republicans are expected to make broad gains.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.