• S.E.C. Likely to Charge More People in Galleon Case – Judge Rakoff wants the names by December 15th. Trial set for August 2, 2010. The legal system easily outpaces anything related to accounting rules. [DealBook]
• Warren Buffett: Tax Hypocrite? – The man is nothing if not thrifty. [TaxProf Blog]
• Breaking: Jones v. Minkin Dismissed!!! (Plaintiff voluntarily dismisses lawsuit against ATL.) [ATL]
• Investor Groups Stump for FASB Independence – FASB defenders. Yes, they exist. [Compliance Week]
• FASB Oversight Subject of Congressional Interest – Who knew so many people were interested in accounting rule-making? [FEI Financial Reporting Blog]
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Review Comments | 07.21.09
- Caleb Newquist
- July 22, 2009
• Bernanke Sheds Light on Exit Strategy – “Federal Reserve Chairman Ben Bernanke shed light Tuesday on the toolkit the central bank can employ to unwind its crisis measures, but he made clear to lawmakers that the economy remains too weak to start tightening monetary policy.” Better than no exit strategy [WSJ]
• CIT Expects Loss of $1.5 Billion, May Seek Bankruptcy – “CIT Group Inc., the 101-year-old commercial lender seeking to avoid collapse, said it expects to report a loss of more than $1.5 billion for the second quarter and may need to file for bankruptcy if it’s unable to tender for notes maturing next month.” [Bloomberg]
• Apple’s quarterly profit tops forecasts – The good results… [Reuters]
• Yahoo sees drop in income from operations this quarter – …and the bad. [Reuters]
• Which Of Alan Greenspan’s More Quotable Quotes Will Bite Him In The Ass On The Big Screen? [DealBreaker]
• The Goldman Way to Celebrate: a Parody – Well played LB. Well played. [DealBook]
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Review Comments | 08.19.09
- Caleb Newquist
- August 20, 2009
• Dispute with E&Y forces Vantis delay – Accountants arguing against auditors. The incestuousness is making us sick. [FT.com]
• UBS to Give 4,450 Names in Settlement – “[The IRS] said the criteria used to select the 4,450 accounts to be turned over is being kept confidential.” [WSJ]
• Scholes, Merton Says Banks Should Value Assets Better [Bloomberg]
• BBVA Likely Winner for Guaranty – “According to people familiar with the auction, the most likely scenario is that regulators would seize Guaranty’s banking unit, Guaranty Bank, and then sell all or most of it to the winning bidder. That is similar to the government’s handling of Colonial Bank, the Colonial BancGroup Inc. unit that failed last Friday and was sold to BB&T Corp.” [WSJ]
• Business to fight SEC director nominations – The most shocking new of the day. [FT.com]
• Citigroup’s Asset Guarantees to Be Audited by TARP – Yesterday’s victims. Here you go. [Bloomberg]
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Review Comments | 12.30.09
- Caleb Newquist
- December 31, 2009
• Turbotax Tweaks for Timmy – Problem solved! [Tax Update Blog]
• Rich Cling to Life to Beat Tax Man – 31ish hours to go. Hang in there withering rich people! [WSJ]
• IRS Outlines Hot Topics for Tax-Exempt Organizations to Watch in 2010 [Not-for-Profit Blog]
• Affluent investors turn bearish on tax, reform worries – If you have more than $500k in investable assets, apparently you’re not happy with what’s going on in DC according to Spectrum Group’s affluent investor index. Is death the best option (starting Saturday of course)? [Reuters]
• Bernie Madoff returned to jail cell after stay at North Carolina hospital – Home sweet home. [NYDN]
• On a completely unrelated note, It’s Tiger Woods Birthday. [Dlisted]
• Lawsuit of the Day: Mike Leach v. Texas Tech University – For the Texas Tech readers out there and whoever likes college football. [ATL]