hedge funds

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U.S. House ready to gut Dodd-Frank Wall Street reforms

WASHINGTON — When Congress returns from its Memorial Day break next week, the U.S. House will take up a massive bill that will repeal much of the Dodd-Frank Act, a law aimed at reforming Wall Street after the 2008 collapse of the housing market that set off a free-fall in the stock market. Continue Reading →

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Allies in ’10, Malloy distant from labor’s WFP in ’17

Gov. Dannel P. Malloy helped deliver a paid-sick days law sought by the Working Families Party in 2011. The coolness of his relationship now with the labor-backed group was reinforced Monday when he said that the WFP’s proposal for a special tax on hedge fund managers is such bad policy it shouldn’t even be discussed. Continue Reading →

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CT’s left pushes Trump to deliver on a populist tax promise

Whatever fiscal sacrifice is proposed Wednesday by Gov. Dannel P. Malloy to close a budget shortfall of $1.7 billion, a liberal coalition will be standing by with an alternative already rejected by the governor — raise more than $500 million by nearly quadrupling the income tax on hedge fund managers. Their message is directed at President Trump, not just Malloy. Continue Reading →

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Malloy happy to defer to Trump on hedge-fund tax break

Gov. Dannel P. Malloy reacted warily Tuesday to state legislation to eliminate the “carried interest” tax break for Connecticut’s influential hedge fund managers, suggesting instead that the liberal sponsors press President Trump to keep his pledge to eliminate the tax benefit through federal action. Continue Reading →

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CT financial industry that backed Romney shunning Trump

WASHINGTON — Mitt Romney raised more than $1.5 million from people connected to Connecticut’s financial services industry, but few of those deep-pocketed donors are giving to Donald Trump. An analysis by the Connecticut Mirror shows that, as of the end of July, Trump had only raised about $11,000 from that sector. Continue Reading →

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As Congress balks, Puerto Rico on brink of financial meltdown

WASHINGTON – As the hours tick down toward Puerto Rico’s default on a massive debt payment Sunday, Congress has so far rejected solutions offered by Connecticut lawmakers and some Republican leaders to save the commonwealth from economic ruin. Continue Reading →

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Trump takes on key CT industry — hedge funds

WASHINGTON – GOP presidential hopeful Donald Trump has a new target for his ire — other super-rich guys, the nation’s hedge fund managers. “I know a lot of bad people in this country that are making a hell of a lot of money and not paying taxes,. The tax law is totally screwed up.” he said. Continue Reading →

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