Governor Paterson has dropped a proposal to impose New York State's personal income tax on the interest income of non-resident hedge fund managers from his latest preferred list of revenue-raisers to help pay for the 2010-11 budget appropriations... Read More
Tag: Wall Street
Governor David Paterson and the Democratic leaders of the New York State Legislature have agreed to impose $50 million in new taxes on non-resident partners in New York-based hedge funds. Here's how the provision is described in the memo accompanying... Read More
Local media has picked up on the NYC Independent Budget Office's blog post on the precipitous drop in wages in New York's securities industry in 2009. The get-it-over-with-fast drop mightn't have been such a bad thing for the city -- if local, state... Read More
The Senate passed financial industry "reform" yesterday. But one important amendment failed earlier this week: New Hampshire Senator Judd Gregg's proposal to prohibit federal bailouts of state and local governments. The Judd amendment... Read More
e21 has a good staff editorial up on the now-tragic Greek crisis, with possible implications for New York and California. The plan for Greece, of course, is for Europe and the IMF to bail out the debt-drenched nation's bondholders, by imposing austerity... Read More
Arkansas Sen. Blanche Lincoln released her bill for derivatives reform last week. It contains a nugget of good news for state and local taxpayers. The bill would require dealers in the oft-complex business of interest rate and other "swaps," largely... Read More
The l in today's New York Times profiles the 10 highest-earning hedge fund managers. A quick Google search indicates that only three of the firms run by these superstars -- Soros Fund Management, Paulson & Co., and Harbinger Capital Pa Read More
Senator Chris Dodd's financial-regulatory includes some of what the press calls the "Volcker Rule" (p478): banning FDIC-insured banks and their affiliates or parent companies from what's known as "proprietary trading" or betting supposedly safe ban Read More
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