Carl Levin actually said...

Now, in November 2010, the IRS issued a generic legal advice memorandum, a GLAM, advising that basket option transactions similar to what Barclays was using should not be treated as an option for tax purposes.

Context

Levin references an IRS memorandum regarding tax treatment of Barclays' transactions.

07/21/2014

https://www.congress.gov...

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