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Political Factoid
"As Dodd-Frank* was being formulated,
... a group of wealthy families
and attorneys formed the
Private Investor Coalition,
which lobbied Congress
to carve out an exemption
for family offices."
-- [emphasis added]
Consequently, many billionaire hedge funders are
converting to "family offices" with billions of dollars.
| * |
the Wall Street Reform and Consumer Protection Act
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