Citigroup's "Massive" Tax Break
WTF? This is incredible.
Tech Ticker puts the figure at $38 billion.
Rolf Winkler points out that without the tax break, Citi’s tangible common equity would have fallen to dangerous levels. Remember those stress tests? TCE was important.
Wrong. This is why it drives me nuts that people complain about big bad corporations taking over the world. If ever such a thing happens, it will only be with the eager assistance of the federal government. As much as i hate that the government owns part of a huge company like this, the best they can do is botch that botched job. It’s like cutting off your foot and then forego the surgery to re-attach it.
-
hilker reblogged this from crazynutjob and added:
-
crazynutjob posted this
