N.Y. probing equity firms, including Bain

[questionmark]

ALBANY, N.Y. – An official familiar with the probe says New York's attorney general is investigating some of the nation's largest private equity firms, including Bain Capital, founded by Republican presidential nominee Mitt Romney.

The official spoke on the condition of anonymity because of the sensitivity of the probe. It is examining whether the firms used a tax strategy to avoid paying hundreds of millions of dollars in taxes. The practice involved converting some fees collected for managing accounts into fund investments, resulting in a lower tax rate.

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[+and-then]

"Though Romney collects benefits as a Bain retired partner, the inquiry isn't focused on the time he ran Bain"

But being able to have the name of the company associated with such an investigation certainly doesn't harm Obama's campaign now, does it? Funny how these investigations seem to come out of the woodwork at such politically opportune times.....

[questionmark]

as cocky as the Dems are there must be something as October surprise too.

[Gromdor]

That is a nifty trick, turning income into capital gains by having your fees considered investment returns. Basically pay half the tax rate. I wonder if I can get my boss to list my wages as "dividend returns" for time invested in the company!

[+and-then]

as cocky as the Dems are there must be something as October surprise too.

I'm sure there is. But equally sure that they won't need it. The people seem to have made a choice where this man is concerned and I hope my instincts about him are wrong.

[Simbi Laveau]

Everyone is a crook .Sad but true . I just accept it,lest I get an ulcer .