03/14/2013
https://www.congress.gov...
"Barclays still was 100 percent owner of Palomino."
"And would you agree that the reason that they put that in there is to give the appearance that the activity is not Renaissance's but the banks?"
"Basically Palomino was restricted to basket option transactions with Renaissance and could only use Renaissance as the investment advisor..."
"if there were no rate differential between long-term and short-term capital gains, the Tax Code would be far simpler, far more certain, and far more fair."