A Congressional bid to make hedge fund managers pitch in $25
billion to help defray the cost of the $700-billion financial
bailout package may not turn out to be the boon for the U.S.
Treasury that its promoters are anticipating.
After trying but failing last year to pass a bill taxing
offshore deferred compensation, Senate Democrats tucked the
measure into the recently adopted bailout plan. The change
eliminates a tax dodge popular with hedge fund managers that
allows them to defer taxes on income by salting the money away