07/21/2014
https://www.congress.gov...
"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?"
"Maybe you ought to."
"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 ..."
"That is a lot of expertise."