“They certainly didn’t support it. On the Repo 105 issue, they knew about it; they did not appear to know that the number was so large.”
~ Matthew Lee, the Lehman Brothers whistleblower, in testimony today.
Category: Quote of the Day
Pandering to the Teetotalers with Sin Taxes | 04.19.10
“The honest way to raise more revenue would be to raise income tax rates. But it is more politically attractive to tax these kinds of things. No one can get mad at you for taxing people who drink too much.”
~ Peter L. Faber, tax attorney, on sin taxes.
The Tax Code Became a Religious Experience
“I started to read the Internal Tax Code like I used to study the Bible.”
~ Bob Gorman, religious teacher turned tax professional.
Quote of the Day: Dear Abby Should Not Be Giving Advice About Taxes | 04.14.10
Dear Ms. Van Buren:
Your response to “Phobic” about her boyfriend’s tax returns contained a significant error. You characterized enrolled agents as “the only tax specialists licensed to practice before the IRS,” which is not true. The fact is, certified public accountants and attorneys are federally authorized to represent clients before the IRS.
The CPA has long been synonymous with reliable, objective tax preparation and ranks as the preferred tax professional among millions of U.S. taxpayers.
On behalf of the many CPAs who prepare tax returns every year, we would be appreciative if you would print a correction in your column.
~ Tom Ochsenschlager, Vice President – Taxation American Institute of Certified Public Accountants, in response to this.
Quote of the Day: Ted Danson Is Not Better Than You at Taxes | 04.13.10
“I haven’t prepared my taxes since I was — good Lord, in my twenties. I’m really inept. I’m not good at that.”
Quote of the Day: From ‘Rockstar’ CFO to Mowing Lawns | 04.12.10
“Before the fraud broke, people would ask me what I did before I retired and I’d say I was founder and former CFO of HealthSouth. But today when people ask me what I did before I retired I kind of look away and say I was an accountant and hope they don’t ask me any other questions.”
~ Aaron Beam, former CFO of HealthSouth and current lawn-care business owner, at the University of Texas-Dallas Fraud Summit, earlier this month.
Quote of the Day: Tom Petters Will Start Paying You Back in 2060 | 04.08.10
“Every day, I am fraught with pain and anguish for those affected by my actions. For those who lost money, I will work to repair and replace what has been lost.”
~ Convicted Ponzi Schemer Tom Petters, at his sentencing where Judge Richard Kyle sentenced him to 50 years in prison.
Quote of the Day: Rich People Unite for Higher Taxes | 04.07.10
“We’re calling on other wealthy taxpayers to join us to send the message to Congress and President Obama that it’s time to roll back the tax cuts on upper-income taxpayers.”
~ Mike Lapham, paper-mill heir, would like to pay more taxes.
Quote of the Day: That Profit Really Put Patrick Byrne in a Good Mood | 04.01.10
“Dear Sam, I apologize. Sincerely, Patrick”
~ Patrick Byrne, finally responding to Sam Antar.
In bizarro world.
Quote of the Day: Never a Dull Moment in Accounting | 03.31.10
“Accounting can be exciting — exciting like finding out you are going broke, or exciting like driving a big profit.”
~ Jay Goltz, entrepreneur and contributor to You’re the Boss.
Quote of the Day: A Banker’s Feelings Are Nothing to Me | 03.29.10
“The ability to not worry about whether bankers’ feelings are hurt.”
~ Vanessa Wittman, CFO of Marsh & McLennan Cos., on what skills got her through a tight credit market.
Quote of the Day: Sam Antar Is Ready to Rumble | 03.26.10
I challenge John Thomas Financial CEO Thomas Belesis to a match on the Jerry Springer show. To even the odds, he can bring Overstock.com CEO Patrick Byrne. Two crooks versus a convicted felon born in Brooklyn. They can bring actor turned stock pumper Shia LaBeouf for added muscle, too.
~ Sam Antar, reacting to Thomas Belesis calling him an idiot after Antar suggested that Shia might be able to shed some light on the goings-on at John Thomas Financial involving InterOil. And if you forgot, Sam and Patrick have a bit of a history.