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Last Thursday, we had the spectacle of five top hedge fund managers testifying on Capitol Hill. Several Congressmen honed in on the current tax code which allows hedge fund partners (and other partnerships) to be taxed at a lower rate because of the rules on carried interest. At last week’s hearing, George Soros and Jim [...]
The deadline for banks to apply for the Treasury Department’s Capital Purchase Program is just hours away and as we’ve footnoted before, banks have been busily filing both their applications with Treasury and 8Ks with the SEC announcing their applications and approvals of Treasury funds. The WSJ has a handy list to show you who’s [...]
Today’s main event — the fifth in a series of hearings examining the market meltdown — is likely to be a lively hearing featuring five top hedge fund managers and a group of professors, among them former SEC Chairman David Ruder. The prepared testimony is available on the committee’s site.
Henry Waxman just opened the hearing, [...]
One of the pieces of the 451-page EESA legislation that hasn’t gotten a lot of attention is the extension of tax credits for R&D that had expired at the end of 2007. Indeed, even the Wikepedia description of the legislation makes no note of the credits. But companies — or at least their accountants and tax [...]
Late yesterday, after a day of headlines like this one, General Motors (GM) filed an incredibly sober 10Q. Weighing in at 337 pages, GM seems to be worried that folks might not get through the whole thing. So they started off with a wallop of new disclosures, including this one:
We have had significant losses from [...]
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