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Wall Street firms avoided taxes, took risks

July 29, 2014
By Sen. Carl Levin , Daily Press

WASHINGTON - In recent years, the Senate Permanent Subcommittee on Investigations, which I chair, has exposed tax avoidance by profitable corporations and wealthy individuals. We also have examined reckless behavior that has put the stability of the financial system - and by extension, the U.S. economy - at risk. In late July, we released a report and held a lengthy hearing on a situation that combines those two important issues.



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