Cyprus known as Laiki Bank), into a "bad" bank which would be wound down over time and a "good" bank which would be absorbed by the Bank of Cyprus. In return for a €10 billion bailout from the European Commission, the European Central Bank and the International Monetary Fund, often referred to as the "troika", the Cypriot government was required to impose a significant haircut on uninsured deposits, a large proportion of which were held by wealthy Russians who used Cyprus as a tax haven. Insured deposits of €100,000 or less were not affected. According to the 2017 International Monetary Fund
Americans Standing for the Simplification of the Estate Tax Americans Standing for the Simplification of the Estate Tax Americans Standing for the Simplification of the Estate Tax (ASSET) is a lobbying group of individuals and private businesses, which advocates changing the collection method for the estate tax in the United States. ASSET works with think tanks, elected officials and lobbyists on Capitol Hill to bring about an option that would change the existing estate tax laws. The group was founded in 2010 by Jack Fitzgerald, an entrepreneur and chairman of a chain of dealerships called Fitzgerald Auto Malls, which is based in Kensington, Maryland. Fitzgerald created ASSET after building