The big Wall Street news out of Washington over the weekend was not that the people who make money from money—private-equity moguls, hedge-fund managers—once again beat back the latest attempt to close the so-called “carried interest loophole.” That was to be expected, as I predicted last week when some people actually thought that finally it was les jeux sont faits for the loophole (or whatever you want to call it). And, really, the outcome was never in doubt thanks to Kyrsten Sinema, the senator from Arizona, who was well-paid by the money industry for her insistence that the Inflation Reduction Act not contain any provisions related to carried interest.