Free Republic

A major Democratic donor who is funding some of the left’s most politically active electioneering groups was subject to bipartisan condemnation this week in the midst of a federal investigation into his hedge fund’s tax avoidance schemes. Senators from both parties blasted efforts by Renaissance Technologies, a hedge fund owned by Democratic mega-donor Jim Simons, to shield itself from federal income taxes during a Tuesday hearing. “Two banks and a handful of hedge funds developed a complex financial structure to engage in highly profitable trades while claiming an unjustified lower tax rate and avoiding limits on trading with borrowed money,”...

US hedge fund bosses threaten to move to Britain • Billionaires battle against threat of regulation • Soros says he would happily pay income tax America's top hedge fund managers staunchly defended the conduct of their secretive, high-risk industry yesterday and warned Congress that knee-jerk regulation could push financial jobs across the Atlantic to London. In a rare day of public scrutiny, the billionaire bosses of five leading hedge funds appeared before the house oversight committee to answer charges that their unregulated bets on financial markets have destabilised the global economy. George Soros, Kenneth Griffin, Philip Falcone, Jim Simons and...