Senator Obama Backs Hedge Fund Legislaton

Filed in archive on February 23, 2007

In a follow up to the political track hedge funds are following in the U.S., its interesting to see how some politicians are taking a different direction. In a HedgeCo story;

"obama has joined senators Carl Levin and Norm Coleman in introducing legislation aimed at stopping offshore tax haven and tax shelter abuses. Says Obama: "This is a basic issue of fairness and integrity. We need to crack down on individuals and businesses that abuse our tax laws so that those who work hard and play by the rules aren't disadvantaged."

They believe the loss to the Treasury from offshore tax evasion could amount to $100 billion a year. I wonder if any of that money finds its way back into the political donation box.