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Footnotes: Chinese Accounting Scandals Are Old Hat; Kentucky Gov Wants Some Action; Obama’s Indifference for Tax Reform | 02.07.13

Chinese Accounting Scandals. Simple Is As Simple Does. These sort of accounting cheats are not by any means peculiar to China.  They are cheats that have been employed again and again all around the world.  Yes, Virginia, even in the United States.  There is nothing new here because when it comes to fraud, there is rarely anything new under the sun.  I doubt there is an auditor with even two months of experience at any big accounting firm who has not already been trained to look out for every single one of them. [China Law Blog]

Kentucky Governor Steve Beshear tells lawmakers state needs tax reform [AP]

Liberals introduce bill to end tax deferral on foreign income [The Hill]

More Than an Obstacle to Tax Reform Up until now, I’ve given the President the benefit of the doubt about reforming our broken tax system. I just didn't think tax reform was a big issue for his administraiton. That certainly is an obstacle to tax reform. But now I’m beginning to think he doesn’t care about tax policy at all. [Christopher Bergin]

Crime novelist Patricia Cornwell takes the stand in suit against former accounting firm Best-selling crime novelist Patricia Cornwell testified Friday she was never aware her former financial management firm had invested her money in an “aggressive growth” fund against her wishes and that her signature on a financial document had been forged. Cornwell, taking the stand for the first time in her federal lawsuit against the firm and its former principal, said she had told Evan Snapper and his colleagues at Anchin, Block & Anchin that she was earning enough money and wanted to invest conservatively. But she told the jury she later discovered Anchin had invested some of her fortune in riskier ventures. [BG]

DCJ goes after the pharm companies using "legal restructurings" to move profits offshore. [TA]

You Will Spend $22,000 on Gas Over Your Car's Lifespan [MoJo]

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