“The hedge fund guys are getting away with murder…”
– Donald Trump on August 23rd, 2015 on how hedge fund managers only pay 20% on some of their income by using the carried interest loophole. A tax rate that is lower than the rate what middle class families pay.
President Donald Trump on Wednesday is planning to unveil a proposal to cut corporate taxes on U.S....
HEDGE PAPERS NO. 45: CLOSING A LUCRATIVE LOOPHOLE TO HELP OUR COMMUNITIES
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How Maryland Can Raise Millions by Taxing Carried Interest
Across the country, states 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.
In last year’s Presidential campaign, Donald Trump, Hillary Clinton, Bernie Sanders, and Jeb Bush all called for closing a tax break known as the “carried interest loophole,” a legal fiction used by private equity firms and other members off the wealthy elite to lower their federal tax rates below those paid by many working Americans.[1]...
HEDGE PAPERS NO. 44: HOW HEDGE FUNDS RIP OFF OHIO UNIVERSITY ENDOWMENTS
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How Ohio Students, Taxpayers & Communities Suffer
The Great Recession took an immeasurable toll on Ohio’s colleges and universities–and eight years later, Ohio’s higher education system has yet to recover.
State funding was cut, tuition was increased, and university endowments lost huge amounts in market losses – and have since lost even more to exorbitant fees charged by greedy Wall Street hedge fund managers....
HEDGE PAPERS NO. 43: CONNECTICUT BILLIONAIRES AND THEIR LUCRATIVE LOOPHOLE
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How We Can Raise Hundreds of Millions by Taxing Carried Interest
Across the country, states 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....
Hedge Papers No. 42: BILLIONAIRES LEON BLACK & STEPHEN SCHWARZMAN ATTACK MOMENTIVE AND UPSTATE NEW YORK
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With national attention focused on populist anger over Wall Street’s role in rigging the economy, more and more Americans are taking a growing interest in the business practices of billionaire investors and money managers.
Wall Street multimillionaires and billionaires have captured unprecedented wealth, even as the rest of the economy sputters and working families see their incomes stagnate or decline....
UPDATE: Pirates of the Caribbean: How Santander’s Revolving Door with Puerto Rico’s Development Bank Exacerbated a Fiscal Catastrophe for the Puerto Rican People
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UPDATE: Carlos García Fails to Report CommoLoCo in Financial Disclosure
García’s business makes small loans to desperate Puerto Ricans at extremely high interest rates
The following is an update concerning the business interests and apparent conflicts of Carlos García, who is serving as a board member of the Financial Oversight and Management Board for Puerto Rico (aka “Fiscal Control Board,” “Junta”).
A report issued last December by the Committee for Better Banks and the Hedge Clippers, entitled “Pirates of the Caribbean” examined a web of conflicts between García’s former employer Santander Bank and the Government of Puerto Rico surrounding debt issuance, which has helped create a humanitarian crisis in Puerto Rico.
The report places Carlos García at the center of these conflicts, because he served as a senior executive at Santander while the bank advised on debt deals and underwrote bonds for the Commonwealth....
#Hedgepapers No. 41-BILLIONAIRES ATTACK NEW YORK STATE ELECTIONS
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BILLIONAIRES BUYING ALBANY LAWMAKERS TO WIN NEW TAX BREAKS AND PROTECT OLD ONES
More and more New Yorkers are outraged over corruption and influence-pedaling in Albany, disgusted with a state government that seems to prioritize special deals for the wealthy and well-connected over the needs of regular people.
Dozens of Albany lawmakers and top officials have been arrested and prosecuted for criminal violations in recent years, but state government corruption has continued – including the “legal” corruption that’s caused by massive campaign contributions from individuals and corporations seeking special benefits from state government, or seeking to keep special benefits they’ve already got....
#Hedgepapers No. 40- High-Priced Hustle: How Hedge Funds Have Made Billions Cheating Ohio’s Public Pensions
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Wall Street’s Big Scam: Higher Fees, Lower Returns
Introduction: Ohio’s Public Pensions and the Great Recession
The Great Recession hit Ohio hard. From leading the nation in foreclosures at the onset of the economic crisis[1] to losing over 400,000 jobs between 2007 and 2009,[2]families and neighborhoods across the state felt the devastating impact of Wall Street’s greed and risk-taking....
#Hedgepapers No. 39-HEDGE FUND BILLIONAIRES ATTACK THE HUDSON VALLEY
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WALL STREET GOES ALL IN TO SAVE TAX BREAKS FOR THE WEALTHY
Hedge funds and billionaire hedge fund managers are destroying our economy, corrupting our government, hurting families and communities and exploding inequality. It’s happening all over America, and increasingly all over the world.
And now it’s happening in the Hudson Valley....