• BofA fails to meet congressional deadline – In a move that is either ballsy or just plan stupid, KL and his merry band of mates decided that the deadline wasn’t a real deadline. [Reuters]
• Did Wells Fargo’s Auditors Miss Repurchase Risk? (WFC) – Our contributor, Francine McKenna’s, take on WFC and KPMG and the parallels to New Century. [Clusterstock]
• Congressional Report Says A.I.G. Has Stabilized – Whether or not they pay back the gazillion dollars they owe the Treasury is another matter entirely. [NYT]
• High-Yield Bond Buying Starting to Get ‘Ridiculous’ – That’s more like it. [Bloomberg]
Related Posts
Review Comments | 10.14.09
• Blue Chips Breach 10000 – OHHHH BOY. We heard something about a cake and Maria Bartiromo but that could be a rumor. [WSJ]
• IRS Steps Up Offshore Money Hunt as 7,500 Disclose – Believe it when we tell you that if you’ve got an offshore account and you haven’t declared by midnight tomorrow, armed men in masks will be storming your home and you will be made an example. [Bloomberg]
• Your dog may soon be able to fetch you a nice big rebate on your federal taxes – Up to $3,500 in Washington. [NYDN]
• FASB Links GAAP with XBRL through Codification – That should help. [Compliance Week]
• Survey. Last time. Swear.
Review Comments | 07.14.09
• HSBC Sued Over $578 Million ‘Fake’ Profit From Madoff – Simply stated, clawbacks are a bitch. [Bloomberg]
• House Health Bill Slaps 5.4% Tax on Top Earners – “House Democrats Tuesday proposed new taxes on the wealthy to help fund an expansion of government health benefits. But the bill also includes a mechanism to peel back the tax increases if the revenue isn’t needed to fund the bill.” [WSJ]
• IASB promotes ‘fair value’ rule change – “A radical shake-up of how banks and insurers report the value of financial instruments has been proposed by international accounting rule-setters in a bold attempt to resolve an intense dispute at the heart of efforts to prevent a repeat of credit crisis.” Don’t hold your breath on this. Banks won’t be down for it. [FT.com]
Review Comments | 12.18.09
• BKD CEO elected to second term at helm – BKD had a much easier time than BofA. [Springfield Business Journal]
• Last Laugh for Late Tax Lawyer – Only death applies here. [Web CPA]
• Teed-Off Facebook Dumps Patrick Byrne Accounts, Issues Stern Warning – Took long enough. [Gary Weiss]
• Voting now open for worst footnote of 2009! – A company purchasing antique maps for $12 mil? A $1.95 signing bonus? A worthless yacht? [Footnoted]
• Accenture and Tiger Woods and Outsourcing – Accenture isn’t looking for the new face of the company. [CFOZone]
• And for the Christmas music lovers: