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Bank of America (BAC) aims to please regulators and get a tax break by moving more than $50B of...

Bank of America (BAC) aims to please regulators and get a tax break by moving more than $50B of derivatives business out of Dublin and into its U.K. subsidiary. The Irish don't want the business, the British want to keep it under a closer eye, and BofA's U.K. unit is sitting on $8B in tax-deferred assets which it will now be able to monetize.
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Comments (2)
  • JamesChessing21
    , contributor
    Comments (128) | Send Message
     
    The Irish also closed down their Papal Embassy in Rome supposedly to save a few Euros, the Irish have lost their way...
    28 Jan 2013, 01:10 PM Reply Like
  • gwynfryn
    , contributor
    Comments (4859) | Send Message
     
    Oh I don't know James; what comes out of the Vatican save hot air? Besides, embassies cost a lot more than "a few Euros"...

     

    As for getting shot of BAC, well, the company is worth more than Ireland, so it seems like a good move, given that the government over there have little to no control over it all!
    29 Jan 2013, 09:40 AM Reply Like
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