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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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From: StockDung1/20/2016 12:37:23 PM
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Looks like Hillary going after the Dan Loeb Bermuda reinsurance loophole

The Democratic presidential frontrunner on Tuesday called for closing a pair of loopholes that some have used to shield billions in personal wealth. One, which the campaign dubbed the “Bermuda reinsurance loophole,” involves cycling income through reinsurance outfits they’ve set up in low-tax locales to reduce what they owe on it in the U.S. The scheme has proven popular among New York financiers, including John Paulsen, Dan Loeb, and David Einhorn. The other, which her camp is calling the “Romney loophole,” allows the ultra-rich to shield wealth from taxation by stashing it in individual retirement accounts — a move that 2012 Republican nominee Mitt Romney used to protect as much as $102 million.

fortune.com
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