Subject: RE: Rosemont Seneca Dinner Follow-Up
From: "Nick Rohatyn" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Fri, 27 Aug 2010 16:59:54 -0400

Thanks hunter. I look forward to catching up in person

Best

N

________________________________

From: Hunter Biden [mailto:[email-masked]] 
Sent: Friday, August 27, 2010 4:56 PM
To: Nick Rohatyn
Subject: Re: Rosemont Seneca Dinner Follow-Up

Nick-

Just wanted to let you know I had a recent conversation with a friend on
the Ways and Means staff (Minority) who feels like an extension of the
tax cuts (all of them) for one year may be the likeliest scenario at
this point.   The Administration may agree to this if there was
something else stimulative included such as a payroll tax holiday or
cut, but given the prospects on the economy, it will be next to
impossible to get moderate Dems in Congress to support something that
could be called a tax hike and they may choose to delay the decision for
a year by extending all of them for that period of time.  

I don't think anyone knows for sure what will happen, but when I heard
this I thought it was interesting and wanted to pass it on.

I understand I'll see you in DC in a couple of weeks.   Looking forward
to it.

Let me know if you have any questions and have a good weekend.

Best,

Hunter

R. Hunter Biden

Rosemont Seneca Partners LLC

202-333-1880

212-933-9965

 

On Aug 6, 2010, at 6:16 PM, Nick Rohatyn wrote:

Thanks Hunter, that is helpful.

I hear your Dad was spotted on the beach here in Southampton today, by
the way.

N

________________________________

From: Hunter Biden 
To: Nick Rohatyn 
Sent: Fri Aug 06 17:47:04 2010
Subject: Re: Rosemont Seneca Dinner Follow-Up 

 

Nick-

From everything I hear it is still up for negotiations.  The Dems of
course want to extend only the middle class tax cuts and the Republicans
want to extend all of them.  At the moment it doesn't seem the Dems have
the votes to just extend the middle class tax cuts, but they do have the
leverage of the fact that if Congress does nothing then nothing gets
extended at all.  There are a number of Dems who think that this is an
issue they should really take to Republicans because it goes against
many Republicans' anti-deficit arguments.  I have a couple of calls in
to some people who have a better sense on whether there is a compromise
out there on this and I'll let you know what the latest is, but clearly
both sides are going to look to campaign on this in the fall and I think
strategy on this will crystallize over recess.

I know that is nothing definitive, but let me get back to you as I hear
more from the couple of people I have calls into.

Best,

Hunter

R. Hunter Biden

Rosemont Seneca Partners LLC

202-333-1880

212-933-9965

 

On Aug 6, 2010, at 10:20 AM, Nick Rohatyn wrote:

Thanks for that, Hunter. On a different topic, what do you think will
ultimately happen on the question of the Bush tax cuts?

N

Nicolas S. Rohatyn

The Rohatyn Group

280 Park Avenue, 27th Floor West

New York, NY 10017

212.984.2901

________________________________

From: Hunter Biden [mailto:[email-masked]] 
Sent: Wednesday, August 04, 2010 5:56 PM
To: [email-masked]; [email-masked];
[email-masked]; Loeb Daniel; [email-masked];
[email-masked]; Arlene Busch; Pedrotty Daniel; Nick Rohatyn;
[email-masked]; [email-masked]
Cc: [email-masked]
Subject: Rosemont Seneca Dinner Follow-Up

All-

Chris and I wanted to reach out to all of you as a follow up to our
dinner a couple of weeks ago.   We both hope that one of the outcomes
from our recent dinner will be that we will all seize the opportunity of
the recent introductions to continue the various lines of discussion we
started at dinner. Part of the driving force behind our dinner was the
notion that each of you has a perspective that should be discussed and
amplified. 

One topic we feel we did not have adequate time to flesh out over the
course of the evening is the pending crisis of unfunded liabilities in
public/ Taft Hartley pension programs.  It is our belief that
legislation alone will not solve the problem and can only be seen as a
temporary fix we will all pay for later.  Following the dinner, we have
heard from several of you individually who have expressed in both broad
and specific terms potential private sector solutions and suggestions
for reform.  We do not mean to be presumptuous, but we think a continued
conversation that could lead to real and actionable ideas may benefit
those entrusted with their constituents'/ members' pension dollars.  At
the very least we will all end up with a better understanding of each
other's unique perspectives on the problem.  

In that spirit, we recently saw the following two reports that both gave
interesting perspectives on the issue.  One is by the GAO and one is by
Pew - some of you may have your own thoughts on these reports.  

http://www.pewcenteronthestates.org/report_detail.aspx?id=56695
<http://www.pewcenteronthestates.org/report_detail.aspx?id=56695> 

http://www.gao.gov/new.items/d10708t.pdf
<http://www.gao.gov/new.items/d10708t.pdf> 

We know you are all busy with the work in front of you on a day to day
basis, but if any of you have the time or the inclination we hope that
you would share with the group any specific ideas or refer the group to
any particular articles like the ones above or writings of your own that
address the issue.  We know some of you have already begun your own
conversations - if we can in any way facilitate such talks, please let
us know.  And please feel free to reply "all" with any thoughts on the
subject that you would like to share with the group.  We look forward to
another meeting in the near future.

Best,

Hunter and Chris

 

 

R. Hunter Biden

Rosemont Seneca Partners LLC

202-333-1880

212-933-9965

 

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