The New York AG’s Private Equity Scandal That Isn’t

Several media outlets last week reported on $125,000 in recent campaign donations made by California-based private equity executive Robert Smith and his wife to Eric Schneiderman, the New York attorney general who in 2012 subpoenaed at least a dozen private equity firms over possible tax-dodging activity. On the surface it looked pretty bad, particularly given that Smith and his out-of-state colleagues from Vista Equity Partners have become some of Schneiderman’s largest backers, having...

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