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March 3, 2011
NY Times: Through the Tax Looking Glass With Ambac
New York Times DealBook, Through the Looking Glass With Ambac, by Stephen J. Lubben (Seton Hall):If the claims by the IRS are true, Ambac has managed to pull off something that Lehman Brothers could not: force the government to provide a bailout. Ambac got its bailout by receiving more than $700 million in tax refunds that the IRS now argues were unwarranted.
Ambac slide
- Bloomberg, Bankrupt Ambac Fights U.S. Tax Collectors in Three Courts
- Wall Street Journal, IRS Seeks Federal Court Ruling Over Ambac Back Taxes
March 3, 2011 in News, Tax | Permalink
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Comments
Its funny to see mortgage backed securities, the LV monorail bond, and student loans in that portfolio. The only thing missing is a promise from Wimpy to pay them on Tuesday for a lent hamburger.
Posted by: Guy in the Veal Calf Office | Mar 3, 2011 11:56:39 AM
