Galling Tax Loopholes that Cost the U.S. Government Billions
Corporations and wealthy individuals have already prepared for tax day by assiduously spending money in deliberate ways to minimize their tax liability.
carl levin
Ex-JPMorgan Exec Says Jamie Dimon Withheld Data From U.S.
JPMorgan Chase CEO Jamie Dimon held back showing federal regulators reports in May that revealed the bank had accumulated billions of dollars in trading losses, according to congressional testimony Friday from the firm's former chief financial officer.
JPMorgan Hid London Whale Trading Risks, Senate Panel Says
A Senate panel issued a scathing report on JPMorgan's $6.2 billion trading loss last year, saying the bank ignored growing risks and hid losses from investors and regulators.
HSBC to Pay $1.9 Billion to Settle Money-Laundering Case
HSBC agreed Tuesday to pay $1.9 billion to settle a U.S. money-laundering probe. Europe's largest bank will pay the biggest penalty ever imposed on a bank after facing accusations it transferred funds through the U.S. from Mexican drug cartels and on behalf of nations such as Iran that are under international sanctions.
Report: U.S. to Lose 2 Million Jobs If Automatic Spending Cuts Hit
Automatic cuts in federal spending will cost the economy more than 2 million jobs, from defense contracting to border security to education, if Congress fails to resolve the looming budget crisis, according to an analysis released Tuesday.
Swiss Bank Accounts: Why Mitt (or an Average Joe) Might Want One
Mitt Romney's Swiss bank account is back in the news, and Americans are wondering why he has money in the famous tax haven. But if "Swiss bank account" makes you think of criminals, secret agents and tax dodgers, your ideas are more fiction than fact.