January 2010
Bernanke Approved for Second Term as Fed Chair
Treasury Sec. Defends AIG Bailout, Himself
An embattled Timothy Geithner faced down a bi-partisan grilling today as lawmakers from the House Oversight Committee investigated the Treasury Secretary’s role in the $180 billion bailout of insurer American International Group (AIG) while he was chair of the New York Federal Reserve Bank.
Bloggers: Submit Your Blog for an NYSSCPA Award
Financial bloggers, it's not too late to submit your blog to the NYSSCPA's annual Excellence in Financial Journalism contest. This is the first year we are accepting blog entries.
Society Board Endorses UAA Section 23 Mobility
UPDATE: State Tax Discontinues 1099-G Mailings
This is usually the time of year when New York state taxpayers begin to find their 1099-Gs in the mailbox. They may not think of them until they receive them -- a little postcard identifying how much of a New York state tax refund they received last year.
Swiss Court Kills IRS-UBS Deal
Obama Pushes Bipartisan Budget Panel
Democrats and Republicans are unlikely to agree on how to balance the nation's books, but a proposed commission would require the two parties put aside differences and agree on a best course.
Controversy Unlikely to Halt Bernanke Confirmation to 2nd Fed Chair Term
Love him or hate him, it appears Ben Bernanke will be returning to the helm of the Federal Reserve for a second term as the nation continues to recover from the recession. After two Democratic senators (both of whom, the New York Times notes, are up for election) came out in opposition to the confirmation, the news spread to Wall Street and stocks slid for the third day in a row. But today, the White House is reportedly confident that Bernanke will be confirmed.
SEC Seeks to Halt Unfiltered Access to Exchanges
The Securities and Exchance Commission (SEC) is trying to halt a practice its chairman says is like "giving your car keys to a friend who doesn't have a license and letting him drive unaccompanied."
Sounds like a bad idea, right? Well, it's been long been status quo that broker-dealers can provide customers with "unfiltered" or "naked" access to an exchange or alternative trading system (ATS). The SEC is now proposing a rule to prohibit this practice.
Paid in Taxes? Pay Your Taxes!
If you’re a federal contractor looking for lucrative government work, you’d better have all your taxes in order if you want to even be considered. Under a recently signed executive order by the Obama administration, the federal government will no longer award contracts to companies with outstanding tax obligations, with the president saying that it’s wrong for companies to take taxpayer dollars without being taxpayers themselves.