Jim Simons...I think you owe us 6 billion (plus interest)

billyjoerob said:
why do all these reports repeat the claim that the scheme was "complex"? It wasn't complex in the slightest. All Rentech did was wave a wand over it's brokerage account and call it an "option." That's it. There was nothing at all clever or complex about it.
More...

Funny that the 100's of millions of trades executed wasn't a tip off to the IRS that its a short term trading account.
 
Cdntrader said:
Funny that the 100's of millions of trades executed wasn't a tip off to the IRS that its a short term trading account.
More...

Right, and we're supposed to believe that those trades were all executed by Barclays using Barclays own money, with mere "suggestions" coming from Rentech. Meanwhile, Barclays took the whole scheme off its balance sheet - because it was always just Rentech's brokerage account, "fronted" by Barclays (to use the language of a Barclays lawyer who rejected the scheme as illegal). I mean the whole thing is so clumsy and stupid and really an insult to the intelligence of the IRS and everyone else.
 
“On an unlevered basis, our models produce modest returns with very low volatility,” Mr. Brown testified at a hearing of the Senate Permanent Subcommittee on Investigations. Without the leverage and lower taxes, it was uneconomic. It's hard being a market maker without actually being a broker.
 
Welcome to the new brave socialist world.. Obey your public servant. Actually,you are now going to serve the public servant. It happens in Europe, why not in America?
 
You must log in or register to reply here.
Back
Top