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.
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.
âOn an unlevered basis, our models produce modest returns with very low volatility,â 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?