June 16th, 2009
The U.S. Senate Committee on Homeland Security and Governmental Affairs will hold a hearing on the Incorporation Transparency and Law Enforcement Assistance Act this Thursday at 2:30pm. Passage of the act would provide valuable tools to law enforcement officers to combat money laundering, tax fraud, and terrorist financing. However, perhaps the most significant aspect of
Continue Reading
June 15th, 2009
Larry Summers and Timothy Geithner co-authored a piece in the Washington Post today which details five issues that need to addressed in the current financial system and details their plan to deal with each issue. The first 4 issues are domestic in nature, and they lay out plans to deal with each; the fifth priority is the issue regarding regulation in the international financial system, and their plan for addressing this issue is less than clear. From today's
Post:
Fifth, and finally, we live in a globalized world, and the actions we take...
June 15th, 2009
By Timothy Geithner and Lawrence Summers - Over the past two years, we have faced the most severe financial crisis since the Great Depression. The financial system failed to perform its function as a reducer and distributor of risk. Instead, it magnified risks, precipitating an economic contraction that has hurt families and businesses around the world.
Continue Reading
June 15th, 2009
The chairmen of U.S. House and Senate tax committees have asked the IRS to cease efforts to collect penalties from small businesses who bought certain employee-benefit plans branded tax shelters by the IRS.
Continue Reading
