Looking back at Congress’ $10bn tax and Soros’ French fight

In this week’s look back at the archives, AR also revisits a former Banc One PM whose proposed launch is still seeking liftoff.

One year ago

»» The nation’s largest hedge funds faced enormous taxes (of up to hundreds of millions of dollars) to pay for financial reform. The proposal, which stated that the Federal Deposit Insurance Corporation would raise $19 billion over five years from hedge funds managing $10 billion or more and financial institutions with more than $50 billion, was added into the financial reform bill at 3 a.m.

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