23 Aug '13, 2pm
Bitcoin has a Washington problem - Where does repatriated money go - Lew ... - Politico #bitcoin
BITCOIN HAS A WASHINGTON PROBLEM. From our Andrea Drusch, “On paper, the popular virtual currency Bitcoin is the type of entity that traditionally would hire a powerful K Street lobbying firm to protect its interests in Washington, especially in the cutthroat world of financial regulations. But Bitcoin doesn’t exist on paper. With no public founder or organization behind it, Bitcoin isn’t in a strong position to defend itself from government scrutiny or lobby Congress on critical issues including privacy.” The full story: http://politi.co/1f5CshR WHERE DOES REPATRIATED MONEY GO? Northwestern professor Thomas Brennan has a new study out this week examining how repatriated funds were spent after the American Jobs Creation Act of 2004. Brennan found that the common belief that “shareholder payouts in 2005 accounted for $0.60-$0.92 per dollar” of the repatriated income is fals...