HEDGE PAPERS NO. 46: NEW YORK’S BILLIONAIRES AND THEIR LUCRATIVE LOOPHOLE

7 Mar 2017
How Our State Can Raise Billions by Taxing Carried Interest  Across the country, states like New York stand to gain billions of dollars in revenue by closing the carried interest loophole.  It’s a long overdue element of financial reform that the federal government has failed to enact, despite bipartisan support for tax fairness.... Read More

Hedge Clippers to Cuomo: Stand with Puerto Rico — Not With Hedge Fund Billionaires

30 Jul 2015
July 30, 2015 Dear Governor Cuomo – It is with a growing sense of outrage that we write to you today about the horrifying debt crisis in Puerto Rico. This is a crisis that several of your top New York hedge fund donors are actively exploiting and deepening, in a shameless, morally repugnant effort to make as much money as possible.... Read More
Letter cover

#HedgePapers No. 15 – Cuomo’s Cronies: How Private School Billionaires Are Banking On Tax Credits From The Governor

28 May 2015
Cuomo’s Cronies: How Private School Billionaires Are Banking On Tax Credits From The Governor Cuomo’s Latest Scheme: Tax Refunds for Billionaires Who Donate to Elite Private Schools and Privatized Charter Schools Andrew Cuomo is probably the first Democratic governor in history to back tuition tax credits and taxpayer-funded subsidies to wealthy families who send their children to elite private schools.... Read More
Hedge Papers #15 cover

#Hedgepapers No. 14: The Gift of Greed – How Hedge Fund Philanthropists Increase Inequality

11 May 2015
The Gift of Greed: How Hedge fund Philanthropists Increase Inequality “Consider this … your Yom Kippur. You’re going to donate a lot of money. Not enough, obviously, to offset all the s- you’ve done, but a lot.” – Jon Stewart at Robin Hood Foundation gala in 2009[1] The governing boards of the Robin Hood Foundation, an anti-poverty charity, are a picture of the extreme and growing concentration of wealth in American society.... Read More
Hedge Papers #14 cover

#HedgePapers No. 10 – The Double Standard of Success Academy

20 Apr 2015
Hedge Fund Hypocrisy: The Double Standard of Success Academy Success Academy – the charter-school chain and political launching pad for anticipated mayoral candidate Eva Moskowitz — is a favored charity for many hedge fund managers.           But beneath their rhetoric about fighting poverty and supporting academic achievement is a real double standard.... Read More
Hedge Papers #10 cover

Mansion Paper #1: Paul Tudor Jones

9 Apr 2015
Paul Tudor Jones, self-described income inequality crusader, purchases $71.2 million mansion Hedge fund billionaire Paul Tudor Jones, who  waxed apologetic about income inequality at his recent TED Talk, has just snapped up another waterfront mansion, this time on Palm Beach Florida’s “Billionaires’ Row.”   It’s an important investment for Tudor Jones, who only owns two other waterfront mansions.... Read More
Hedge Paper cover

#YachtPaper No.1: Albany to Billionaires, Let Them Have Tax-Free Yachts!

31 Mar 2015
ALBANY’S LATEST TAX BREAKS FOR BILLIONAIRES Hedge Fund Managers and their Yachts and Planes and Helicopters; the State Budget and Cuomo and the Senate GOP; and the new multimillion dollar tax breaks for billionaires on their luxury toys This year’s New York state budget includes new sales tax exemptions for luxury yachts and private aircraft, including private jets and helicopters.[i] It’s a prime example of the power and influence of billionaires, hedge fund managers and their lobbyists, as well as the attention of the Albany political class to the care and feeding of their powerful patrons.... Read More
Hedge Paper cover

#HedgePapers No.5: Paul Tudor Jones

12 Mar 2015
PAUL TUDOR JONES: Robin Hood or Robber Baron? Paul Tudor Jones II is an American billionaire with a reported net worth according to Forbes of $4.6 billion.[1] He is the founder of the Tudor Investment Corporation, a private asset management company and hedge fund. He resides in Greenwich, Connecticut, does the bulk of his business in New York City, and makes large-scale political contributions in a number of states.... Read More
Hedge Paper #5 cover

#HedgePapers No.4: How Hedge Funds Purchased Albany’s Lawmakers

4 Mar 2015
the Largest ever analysis of hedge fund influence in Albany shows that hedge funds & hedge fund managers spent $39.6 million in campaign cash An analysis by Competitive Advantage Research, which examined the campaign spending of 570 hedge fund managers and senior executives over the past fifteen years, shows that hedge fund managers have exercised considerable influence over lawmakers in New York.... Read More

#HedgePapers No.3: Hedge Funds and the Destruction of the Upstate Economy

2 Mar 2015
Alternative asset managers and the damage they inflict on New York communities: It’s a real life Hunger Games. The financial elite cloister themselves away in gleaming taxpayer-subsidized towers, sitting on riches they earned by devastating economies in upstate New York and beyond. They earn special treatment from Governor Andrew Cuomo and his buddies in the State Senate by splashing their ill-gotten gains into political races.... Read More
Hedge Paper cover