Page 29 - GoldenOne

GoldenOne
Investors would only be told about phenomenal fictitious returns of 20 to 40%.
Investor’s kept coming while Renaissance maintained a level of secrecy and control never before seen in the investment world. When tax time came and went, Renaissance claimed that since they had not taken out any profits for that year, the profits had not been realized and therefore tax need not be paid. This kept the IRS at bay. But for how long? At some point, Renaissance would face the invalidity of this weak argument in court.
Simon’s decided it was time to retire from Renaissance, probably so that he could plead ignorance of the dastardly deeds carried out by the executives at the company.
In the meantime, Mercer, the co-CEO of the company, was deeply worried, not knowing exactly how to get out of this situation. If Renaissance was exposed as a fraud, the consequences would be unimaginable and devastating. Remember Bernie Madoff. He needed to avoid this at all costs. Mercer knew he was capable of anything in order to protect himself, his family, his reputation, and fortune. Whatever it took.
So, what or who could save the day this time? Mercer’s new plan.
Even more simple. What if one powerful man could speak with authority one day, and the next day the markets would react? And what if Mercer could tell this powerful man what and when to say it? And so the team of Bannon and Trump are born, not unlike the famous team of Edgar Bergen and his wooden dummy, the smart-mouthed Charlie McCarthy.
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