{"id":68,"date":"2007-06-14T21:36:09","date_gmt":"2007-06-15T05:36:09","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=68"},"modified":"2007-06-14T21:36:09","modified_gmt":"2007-06-15T05:36:09","slug":"inviting-aggression","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/inviting-aggression\/","title":{"rendered":"Inviting aggression"},"content":{"rendered":"<p>The day I get back from vacation, I see <a href=\"http:\/\/online.wsj.com\/article\/SB118169817142333414-search.html?KEYWORDS=schwarzman&#038;COLLECTION=wsjie\/6month\">this article<\/a> about how much Stephen Schwarzman is worth&#8211;$7.5 billion.<\/p>\n<p>Most people would think, &#8220;Wow.  That&#8217;s a lot of golf balls&#8221; (or whatever).  I thought, &#8220;Wow.  Congress is going to see red on this one.  They won&#8217;t be able to resist that bale of cash just sitting out there.&#8221;  I figured that within a month, the other shoe would drop.<\/p>\n<p>Well, as usual, I&#8217;m off on my timing.  It took <a href=\"http:\/\/online.wsj.com\/article\/SB118185483791435821-search.html?KEYWORDS=schwarzman&#038;COLLECTION=wsjie\/6month\">one day<\/a> for Congress to react.  It looks like the tax on carry is going to be amended for public PE firms.  This won&#8217;t affect public partnerships of any other sort, just investment firms&#8211;the ones whose fabulously rich partners have been in the news.  Yea, this measure has been considered for a while, long enough for Schwarzman to lobby for preferential treatment via a transition rule, but I can&#8217;t help but think that the pols who announced this might have taken a measure of the public mood in their timing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The day I get back from vacation, I see this article about how much Stephen Schwarzman is worth&#8211;$7.5 billion. Most people would think, &#8220;Wow. That&#8217;s a lot of golf balls&#8221; (or whatever). I thought, &#8220;Wow. Congress is going to see red on this one. They won&#8217;t be able to resist that bale of cash just [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-68","post","type-post","status-publish","format-standard","hentry","category-executive-compensation"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/68","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=68"}],"version-history":[{"count":0,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/68\/revisions"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=68"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=68"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=68"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}