Wednesday, 17 September 2014
Last updated 7 hours ago
Jul 12 2007 | 12:44pm ET
The Bush administration has come out against raising taxes on private equity firms, hedge funds and their managers, warning that it could undermine “entrepreneurship.”
At yesterday’s Senate Finance Committee hearing on the issue, Eric Solomon, assistant Treasury secretary for tax policy, urged Congress to “be cautious about making significant changes” to partnership and capital gains tax rules that have “worked successfully to promote and support entrepreneurship for many decades.”
The panel’s top-ranking Democrat and Republican, Sens. Max Baucus (D-Mont.) and Charles Grassley (R-Iowa) are co-sponsoring legislation that would more than double the tax rate on certain partnerships—like p.e. firms—that go public. Meanwhile, in the House of Representatives, Democrats are pushing a bill that would do the same to “carried interest,” investment gains made by fund managers.
Still, the prospects for success did not look good at the hearing, with three key Democrats—Sens. John Kerry (D-Mass.), Ron Wyden (D-Ore.) and Charles Schumer (D-N.Y.)—expressing reservations, and many committee Republicans publicly opposing the measure.
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…
The London Whale saga is a twist on the typical rogue trader story as the rogue trader recognized the error of his ways and was prepared to take his medicine but was instructed by superiors to “defe...