17 Dec
2003
17 Dec
'03
11:17 p.m.
There's no particular need for tax fraud, except by little guys. The big guys have lots of legal techniques. A prime example was the notorious $1000->$100,000 cattle futures transaction that Hillary Rodham Clinto did, just before entering the White House. Clearly, it wasn't an investment: it was a scheme to let some rich Arkansas guy pay a bribe - legally. A cooperative broker sets up a "short" position and a "long" position on a trade - then the positions get assigned, after the market has made its move, such that the guy "loses" the $100k and Hillary "has a profit".