Even Before Enron: Bank Regulators, the Income Tax, the S&L Crisis, and Deceptive Accounting at the Supreme Court
11 Pages Posted: 24 Aug 2002
Abstract
Years before the ENRON debacle, the Supreme Court heard a pair of cases involving dishonest financial accounting, Frank Lyon Co. v. U.S. and Cottage Savings Ass'n. v. Commissioner. In both cases, federal bank regulators had encouraged deceptive financial accounting, and the deceptive accounting became the basis for taxpayer claims. The Supreme Court, however, did not comment in either opinion on the deceptive character of the financial accounting that gave rise to tax litigation.
Suggested Citation: Suggested Citation
Cohen, Stephen B., Even Before Enron: Bank Regulators, the Income Tax, the S&L Crisis, and Deceptive Accounting at the Supreme Court. Available at SSRN: https://ssrn.com/abstract=324860 or http://dx.doi.org/10.2139/ssrn.324860
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.