Senator McCain questions the size and risk of JPMorgan.
03/14/2013
https://www.congress.gov...
But the question here is: Are they paying their taxes that would be appropriate for the transactions they are engaged in?
Now, is Renaissance one of the most successful of all hedge funds because of this?
That is not exactly a deterrent to misbehavior.
So, Mr. Rosenthal, we are really talking about de facto tax avoidance here. Is that correct?