A Big Loophole Lets Wall Street Banks Write Off Government Fines On Their Taxes

A Big Loophole Lets Wall Street Banks Write Off Government Fines On Their Taxes: Following their roles in the housing collapse and financial crisis, some of Wall Street’s biggest banks faced fines from federal regulators reaching into the hundreds of millions of dollars. Now, a loophole in corporate tax law is allowing them — and other corporations that get penalized by Uncle Sam — to write off those fines [...]/p