We used to raise funds for startup companies in the several hundred million dollar range. Raising several hundred million dollars to buy financial assets (like,

We used to raise funds for startup companies in the several hundred million dollar range. Raising several hundred million dollars to buy financial assets (like, say, distressed debt) with an experienced millionaire management team is a very different kind of startup from the kind Mr. Graham and company fund. Anyways, I think its clumsy and stupid when Congress tries to engineer society through the tax code.