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Footnotes: Mitt Romney’s Proposed Limit on Tax Deductions and Other Random Things | 10.02.12

Supreme Court Declines to Hear Watson, A Critical Case on S Corporation Reasonable Compensation [DT]

Romney floats $17K limit on tax deductions [The Hill]

Eric Schneiderman Will Have to Do Better Than This One section of the complaint, about advice rendered to Bear Stearns by the accounting firm PricewaterhouseCoopers, is sloppy to the point of inaccurate. It says: “Defendants’ external auditor, PricewaterhouseCoopers, in August 2006, advised defendants to stop asserting EPD claims against sellers on securitized loans before determining whether a breach of representations and warranties of securitization agreements also existed.” The complaint then goes on to describe related advice that Pricewaterhouse provided to Bear Stearns that year. The problem with that section is Pricewaterhouse wasn’t the external auditor for Bear Stearns in 2006. Deloitte & Touche was. [Bloomberg]

Would You Lick a NYC Subway Handrail from Top to Bottom for a Buck? [Gawker]

Man at court for cocaine case brings cocaine to court: police [CST]

How to Find Porn on the Internert For those of you that have had trouble. [BBW]


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