All Gov – by Noel Brinkerhoff, Danny Biederman
Senate investigators have determined that some of the most powerful investment firms on Wall Street schemed their way into billions of dollars in tax breaks.
A report (pdf) by the U.S. Senate’s Permanent Subcommittee on Investigations says more than a dozen hedge funds used “basket options” over a 15-year period to avoid paying hundreds of billions in taxes they would otherwise have owed to the U.S. Treasury. Continue reading “Hedge Funds Accused of Screwing Americans out of Billions of Dollars in Taxes”

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