Not a bad analogy.
It may not have been as big an unexpected defeat as Spain’s loss to Switzerland in the World Cup or as ridiculous a spectacle as the debate in Washington over what exactly the word “plume” means, but the U.S. Senate’s struggles to pass the tax extenders’ bill – which contains an increase in taxes on carried interest – nonetheless caused some gasps and shouts of “Ole!” in our little corner of the office. The twists in this saga have been harder to follow than the edges of an M.C. Escher image, but the latest – short of whatever backroom dealing we’re not privy to – is that Democrats were four votes short of ending debate on the scaled-back bill they’ve suggested as of Thursday night. The path forward from here is not clear, writes the Huffington Post.
via The Week In Private Equity: Of Carried Interest And M.C. Escher – Private Equity Beat – WSJ.