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Preliminary Analytics | 10.13.09

Business Fends Off Tax Hit – “Lurking behind the tax debate was the administration’s need for new sources of revenue to fund its increased spending. Jason Furman, a White House economic adviser, made that point clear at the end of a session with a dozen or so lobbyists in March. Catherine Schultz, head of tax policy at the National Foreign Trade Council, who was at the meeting, says Mr. Furman basically told the group: ‘We need the money.'” – So, that’s a bit of a problem. [WSJ]
CIT Says Chief Executive Peek to Resign, Effective Year End – The board knew something was up when Peek showed up to work yesterday with a Fu Manchu. [Bloomberg]
Schwarzenegger Signs Bill Creating Harvey Milk Day – Good job Arnie but state employees still have to work and will now receive OT. IOU’s should work. [NPR]
AIG to sell Taiwan insurance unit for $2.15 billion – “The sale of Nan Shan Life on Tuesday was another step in AIG’s effort to repay U.S. taxpayers after the government injected $80 billion into the company, but the insurer faces two more sales processes in Asia and others across the globe.” We lost count on what they’ve paid back but we’re guessing they owe somewhere in the nabe of a shitload. [Reuters]
So Much Auditor Litigation Makes For Strange BedfellowsUncle Dangle has some interesting problems re: Merrill Lynch and BoA that they would prefer just went away. [RTA]