• SEC contrite over failure to uncover Madoff – The victims, we understand you want to let them know. The rest of us? WE GET IT. [Reuters]
• AICPA Proposes Clarification on Sharing Client Information – In a word: Don’t. [Compliance Week]
• Geithner: Banks To Repay $50 Billion In Rescue Funds – Is someone still tracking this? [NPR]
• Recession Takes Heavy Toll on U.S. – There’s this…[WSJ]
• Stocks Rally to New 2009 Peaks – …then there is this. [WSJ]
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Review Comments | 07.23.09
• Council fired Scott Janke after learning of marriage to porn star Anabela Mota aka Jazella Moore – Last we checked, this was still America and bagging a porn star is in the Declaration of Independence or something [NYDN]
• Dozens Arrested in New Jersey Corruption Probe – “Federal agents swept into New Jersey towns across several counties Thursday morning, charging 44 people, including three mayors and religious leaders, in a federal investigation into public corruption and money laundering.” [WSJ]
• Wall Street Journal Coverage Of Crisis Finally Gets Serious – Cankles. Page one. Yes. [DealBreaker]
• Microsoft revenue misses, shares tumble – In other news, Bill Gates is still rich. [Reuters]
Review Comments | 11.17.09
• IRS Hails ‘Historic’ Response To Amnesty For Offshore Bank Accounts – Scare tactics work. [NPR]
• SEC in talks with IRS about preserving tax breaks for LIFO – Wouldn’t be so good for the likes of ExxonMobil if the breaks went away. A study says it would increase XOM’s tax liability by $9 billion. Lobby much? [CFOZone]
• Sheep Dogs and Stewardship — Why Groom the Next Generation? – “The demands on the recruiting directors of the banks and law firms and accountants are not different. They manage their personnel pipelines because, as a senior Big Four partner put it in a moment of candor, ‘the only reason we hire new staff is so we can re-stock our need for managers.'” [Re:Balance]
• Bill Belichick, Moneyball Savant? – Pats fans, turns out Belichick knows what he’s doing. [TaxProf Blog]
• The Football Plays We Don’t See – No, he really does. [Tax Update Blog]
• President Obama Establishes Interagency Financial Fraud Enforcement Task Force – No less than 23 government agencies, offices, and departments will be involved. How’s that for a dense bureaucracy? [SEC.gov]
• Don’t forget to vote in our two polls from today: Non-profits/Govts and ditiching the bad boss for less scratch. Plus today is the last day to submit a caption for the water closet audit room.
Review Comments | 08.18.09
• Brett Favre Returns to NFL, Signs With Minnesota – Look, we don’t like to talk much sports here but would someone do something about this FOR THE LOVE OF GOD? [Bloomberg]
• Backdating Likely More Widespread – “The study identified 141 companies with such advantageous options-granting practices that the researchers concluded they were highly likely to have been involved in backdating. Ninety-two of those companies never were publicly linked to investigations or announced earnings restatements related to backdating.” [WSJ]
• UBS’s American Clients Face U.S. Criminal Probes – “U.S. tax authorities are expected to obtain the identities of potentially thousands of other American UBS clients soon as part of a legal settlement finalized last week between the bank and the U.S. and Swiss governments.” [WSJ]
• Regulators urged Citi to replace CFO – In case you were short on the government meddling in private business affairs news. [FT.com]
• Bernie Madoff’s Greatest Scam Of All – Size matters? Whose size? [Dealbreaker]