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A NY AG investigation into whether private equity firms use "management fee waivers" to dodge...

A NY AG investigation into whether private equity firms use "management fee waivers" to dodge taxes is complicated by the fact that the $150.6B NY State Retirement Fund has a long history of agreeing to the practice. "This tells us that the NY state pension fund thinks this is legal or they wouldn't be doing it," says a law professor.
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  • Poor Texan
    , contributor
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    And in other news: "RBS managers took part in the manipulation of global interest rates, Bloomberg reports, while traders collaborated with counterparts at other banks. There was also no Chinese wall at RBS: money-market traders who submitted the bank's Libor estimates sat on the same desk as derivatives traders whose profits depended on the rate, with the latter even making submissions themselves sometimes."
    "This tells us that the RBS managers and traders think this is legal or they wouldn't be doing it," says a law professor.
    25 Sep 2012, 12:21 PM Reply Like
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