Unstructured Finance

Essential reading: Obama sees leverage in tax fight, and more

February 28, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

 * White House counts on G.O.P. to bend on cuts’ effects are felt. Michael Shear – The New York Times. White House strategists say they believe that a constant drip of bad news will emerge in Congressional districts across the country in the weeks ahead, putting Republicans on the defensive for their refusal to raise taxes. Link 

Essential reading: EU financial transactions tax to go global, and more

February 27, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* A new European tax on financial transactions is set to go global. Howard Schneider – The Washington Post. The levy is due to take effect next year and will be a significant money-raiser for the 11 nations that have signed on, bringing in an estimated $45 billion annually. Link 

Essential reading: Treasury nominee gets tax questions, and more

February 26, 2013

U.S. President Barack Obama walks with Jacob Lew in 2012. REUTERS/Jonathan Ernst

Welcome to the top tax and accounting headlines from Reuters and other sources.

* Treasury pick tries to cast his history as right for the job. Jessica Silver-Greenberg – The New York Times. Jacob Lew had a $56,000 investment in the Citigroup fund, leading to questions from Republican senators about whether the investment had been put there to dodge taxes. Link 

Essential reading: Republicans rally against taxes, and more

February 25, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* Budget impasse signals a shift in GOP’s focus. Jonathan Weisman and Ashley Parker – The New York Times. Republicans, who last month let taxes rise on incomes over $400,000 to avert broader tax increases and the “fiscal cliff,” are now ready to stand their ground, regardless of the military cuts. Link

Calendar

February 25, 2013

Some important tax and accounting events in the week ahead:

Tuesday, Feb. 26

* Board meeting of the Financial Accounting Foundation, overseer of the Financial Accounting Standards Board and the Governmental Accounting Standards Board. 12:30 p.m. ET. Norwalk, Connecticut.

Essential reading: Payroll tax’s return hits retailers, and more

February 22, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* Payroll tax whacks spending. Shelly Banjo and Annie Gasparro – The Wall Street Journal. Wal-Mart Stores Inc. on Thursday joined a parade of retailers, restaurants and consumer-goods companies worried about the economic impact of the recently restored federal payroll tax that has left Americans with less money to spend. Link 

Essential reading: Sequester talks grow harsh, and more

February 20, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* Rhetoric turns harsh as budget cuts loom. Janet Hook – The Wall Street Journal. Republicans didn’t question Mr. Obama’s assertion that the spending cuts would have a dire effect. They said the plan to avert them should include only spending cuts, not tax increases. Whit Ayres, a Republican pollster, said that the public is viewing the impasse with disgust, but that the president may bear more of the blame for failing to lead the way to a compromise. Link

The dollars keep rolling in for foreclosed home funds

February 20, 2013

By Matthew Goldstein

Today, The Wall Street Journal reports that foreign investors have caught the gold rush mentality that surrounds the market for foreclosed homes in the U.S. But domestic-based firms are still doing quite well themselves in raising big dollars to buy-up foreclosed homes with an eye to renting them out before eventually selling them.

Essential reading: Simpson, Bowles revive deficit plan, and more

February 19, 2013


Erskine Bowles and Alan Simpson, co-chairmen of the National Commission on Fiscal Responsibility and Reform, testify on Capitol Hill, Nov. 1, 2011.

Jim Chanos and the bears come out of hibernation

February 19, 2013

By Matthew Goldstein 

The year is young, but so far its been a rough one for bearish stock investors with the S&P 500 is up 7.25% The surge in equity prices has left  a lot of short sellers–traders who bet on a stock sliding in value–with glum looks on their faces. And it’s with that bullish backdrop that several dozen of Jim Chanos’ closest friends gather in Miami for the noted short seller’s annual meeting of the bears.