Cutting the corporate tax rate - as the President has suggested doing - sounds good, but it...
Friday, November 9, 2012, 10:47 AM ETCutting the corporate tax rate - as the President has suggested doing - sounds good, but it could lead to billions in write-downs for company's with large deferred tax assets on their books. The pain could be especially acute at the large financials - already trading at fractions of tangible book because of wariness over how assets are being valued. Citigroup (C) leads with $53.3B of DTAs.
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