It's foggy in the ol' Towne today, which leaves me feeling nostalgic, anxious and relaxed, all at the same time. Therefore, for no reason whatsoever, a few thoughts:
1) So rarely do web comics intersect with my chosen fields of inquiry:
http://wondermark.blogspot.com/2007/07/323-in-which-it-almost-worked.html
Now, if only Dinosaur Comics will discuss the appropriate governance structure for a unit investment trust!
2) Good job with your news article placement, PR-firms-working-on-behalf-of-the-PE/VC/Hedge Fund industry!
Weak lede: "Some prominent Democrats are beginning to rethink proposed tax increases on hedge-fund and private-equity managers' earnings, after an aggressive pushback by industry lobbyists and arguments that the impact could extend far beyond Wall Street."
Even according to the article, however, the proponents of this change (e.g., Rangel, Levin, Frank) don't seem to be "rethinking" anything. Instead, the industry finally figured out a message (taxing carried interest = bad for pensions & NY) & got a couple of Dems to climb aboard. Now the strategy is to build a consensus for incrementalism and run out the clock.
Smart, and I still don't think it gets thru the Senate. But the politics of this are more sophisticated than the authors of this story represent.
3) I have been thinking about the NASD/NYSE regulatory merger. It's too complex and fascinating to do a slapdash post, so I'll wait. But the acronym really blows. And if I have a suggestion for where they can do some good work right out of the gate, it is in data collection, verification and distribution. But more later...
4) 130/30 funds are featured today in Morningstar. Read with the appropriately jaundiced eye.
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1 comment:
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