The Latest

The American Bankers Association has written to Treasury Secretary Henry Paulson calling on regulators to make several immediate reforms to mark-to-market and fair value accounting rules before banks have to file their year-end financial statements.

Companies in the U.S. and Europe generally favor the move to International Financial Reporting Standards, but European companies are much more skeptical about the process.

Young employees will take a marshmallow today vs. a package of marshmallows tomorrow.

Treasury Secretary Henry Paulson announced a program to allocate $20 billion to back a $200 billion Federal Reserve facility for consumer lending.

Tax document automation provider Copanion Inc., makers of the GruntWorx line, has named technology industry veteran Stephen Royal to the post of chief financial officer, effective immediately.

Lawyers representing two former KPMG executives asked a judge overseeing their trial on tax charges to declare either a mistrial or dismissal in the tax shelter case.

The Internal Revenue Service issued the fall 2008 edition of its Statistics of Income Bulletin, showing growth in income for both individuals and businesses in 2006, but that was before the economic downturn had really hit.

A small business advocacy group is accusing President-elect Barack Obama of backing away from his campaign promises before he even takes office.

Lately we’ve been hearing so many contradictory statements from Treasury Secretary Henry Paulson in such a short period of time that I’m beginning to wonder if we have two look-alikes running around Washington testifying on Capitol Hill and giving impromptu news conferences where they say exactly the opposite.

Young employees will take a marshmallow today vs. a package of marshmallows tomorrow.