Unstructured Finance

Was Jon Corzine insane?

June 28, 2013

In the complaint against former MF Global CEO Jon Corzine filed in federal court on Thursday, the U.S. Commodity Futures Trading Commission depicted the former New Jersey Governor as a negligent leader who should never be allowed back into the financial industry because he did not try hard enough to stop his employees from raiding the brokerage’s customer accounts to cover its own trading losses.

Ray Dalio’s all seeing reputation takes a hit

June 26, 2013

There are storm clouds on the horizon at Ray Dalio’s $150 billion Bridgewater Associates.

The housing proposal that won’t die

By Jennifer Ablan
June 20, 2013

One of the biggest economic stories this year has been the recovery in U.S. home prices. But for the more than 11 million homeowners stuck with a mortgage that’s worth more than the value of their home, it has felt more like being Bill Murray in the movie Groundhog Day.

Goldman fund haggles with REIT investors over 10-cent printing fee

June 13, 2013

A Goldman fund’s REIT charges investors 10 cents per page for financial statements.

Wall Street goes to war with hackers in Quantum Dawn 2 simulation

June 13, 2013

Wall Street will have a simulated cyber war called Quantum Dawn 2 this month.

 

Quantum Dawn 2 is coming to Wall Street.

No, it’s not a video game or a bad zombie movie; it’s a simulated cyber attack to prepare banks, brokerages and exchanges for what has become an ever-bigger risk to their earnings and operations.

Stevie Cohen: the pop star edition

June 12, 2013

Hard to believe, there was a time when Steven A. Cohen was not all that well-known on Wall Street outside of the hedge fund industry. Some even used to confuse the then-paunchy hedge fund trader with a popular magician with the same name.

Essential reading: REIT status questioned by IRS, and more

June 10, 2013

Welcome to the top tax and accounting headlines.

* IRS puts brakes on corporate push to capture real-estate tax break. A.D. Pruitt and Amol Sharma – The Wall Street Journal. The Internal Revenue Service is stepping up its scrutiny of companies that are looking to avoid some corporate taxes by converting their operations into real-estate investment trusts. Link  

Essential reading: Despite tax rules, companies stick with U.S., and more

June 7, 2013

Welcome to the top tax and accounting headlines.

 * Despite tax rules, companies stick with U.S. Victor Fleischer – The New York Times. The tactics that multinational companies like Apple, Microsoft and Hewlett-Packard use to avoid paying corporate income taxes might make one wonder why they incorporate in the United States in the first place. Link  

Calendar

June 6, 2013

Some important tax and accounting events in the week ahead:

Monday, June 10 – Wednesday, June 12

Federation of Tax Administrators annual meeting. Hyatt Regency. Albuquerque, New Mexico.

Essential reading: IRS staff say Washington officials helped direct the probe of tea-party groups, and more

June 6, 2013

Welcome to the top tax and accounting headlines.

* IRS staff cite Washington link. John McKinnon and Dionne Searcey – The Wall Street Journal. Two Internal Revenue Service employees in the agency’s Cincinnati office told congressional investigators that IRS officials in Washington helped direct the probe of tea-party groups that began in 2010. Link