Cutting the corporate tax rate - as the President has suggested doing - sounds good, but it...

|By:, SA News Editor

Cutting 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.