Friday, July 13, 2007

Hillary's Sticks the Tax Kinfe In Hedge Fund Back

Whereas Chuck Schumer is not ready to whack his constituency's leading industry with punitive taxes, Hillary Clinton is. What's more, she's willing to stick the tax knife into a great many of her financial supporters. Mark Lasry of Avenue Capital (who also employs Chelsea) comes to mind, but there are numerous hedgies and big money private equity folks who have ponied up big time for the Dems and Hillary's presidential run recently. Now that she's got the campaign loot, this is how she pays them back. Or maybe she is burnishing her populist credentials free of charge by supporting this knowing that it will never pass, precisely because the hedgies have bought off so many Dems and it will likely get a Bush veto. Which is it? Cynical ploy or good ole' fashioned betrayal?

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