Did the Government Profit From AIG? That's the Wrong Question Treasury never uses the term "profit," even in press releases. The term it does use, "positive return", is a non-Generally Accepted Accounting Principles metric. Treasury has sunk to the level of a social commerce IPO like Groupon, whose infamous Consolidated Segment Operating Income (CSOI) –which was slammed by the Securities and Exchange Commission – glossed over losses to convince investors there was a gain instead. [AB]
Police Investigate Alleged Hate Crime Directed at University of Florida Tax Prof Also see this report from ATL. [TaxProf]
Citigroup Puts the Fun Back in Taking Huge Losses [Bloomberg]
An analyst says Brian Stevens must bring credibility to Groupon's numbers [NASDAQ]
Ex-UBS Trader Kweku Adoboli’s E-Mail to Accountant [Bloomberg]
US, UK sign tax agreement [The Hill]
Nearly nude driver gets 18-month prison term for leading police on high-speed chase [NH]
