Limited Partnership IPOs

Investment bankers are finally extending their decades of experimenting with limited partnership (LP) and limited liability company (LLC) IPOs into a more main line practice.  LP and LLCs IPOs have tax advantages: they are flow through tax vehicles and are useful for investments promising high cash return (dividends) policies.  Yet the bankers are messing up a good thing with too much complexity.  Some in Wall Street cannot resist the temptation to use complexity of a new development to buffalo clients (recall the swaps being sold to CFOs and to Orange County) with false snake oil salesmen claims.  Companies need to go with and investors need to invest only in IPOs that use simple, understandable versions of the LP and LLC.