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Footnotes: Deduction Cap Danger; The PCAOB’s Homework for 2013; Norquist Wins in Early Fiscal Cliff Battle | 11.15.12

The Hidden Economic Damage of Deduction Caps [Martin Sullivan]

Banks And Companies Not Taking Full Advantage Of Opportunities To Defraud Investors Investors don’t demand auditor checks on internal controls because that’s just stuff that investors naturally love: they demand it because the SEC mandated it after Enron, and they sort of got used to it and decided it was a good idea. [DB]

Does Janeane Garofalo Have To Amend 20 Years of Tax Returns? [Slate]

Why Things Fail: From Tires to Helicopter Blades, Everything Breaks Eventually [Wired via TBP]

Here's the PCAOB's standard setting agenda for 2013 [PCAOB]

Worst corporate accounting scandals ever Just in case you prefer infographics to calendars. [AWEB]

Some of you are undoubtedly reading Between the Spreadsheets…wait for it…between the sheets. [WSJ]

White House scrubs petition to ‘punch Grover Norquist in the dick’ “Peacefully grant the people of the United States of America to have Grover Norquist be brought forth in chains and put in a public pillory,” the petitioner wrote. “Once Grover Norquist has been secured, anyone who wishes will be allowed to punch him once, and only once, square in the dick.” [TRS]

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