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'Offshore Shams' Abet Mutual Fund Speculation in Commodities, Senator Says -


By Tom Steinert-Threlkeld

January 26, 2012

The head of the Senate Permanent Subcommittee on Investigations called Thursday for an end to private letter rulings from the Internal Revenue Service which have “essentially opened the floodgates” for mutual funds to speculate in commodities from offshore tax havens such as the Cayman Islands.

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