Asian Morning Briefing: U.S. Stocks End Up on Citigroup Earnings - Wall Street Journal - WSJ.com

Tax deductibility of banks’ big settlements with the government became an issue last fall, when J.P. Morgan Chase & Co. reached a $13 billion settlement with the government over similar issues and acknowledged that $7 billion of that amount would be deductible.

Tax deductions for settling the fraud charges against you. What lucky ducks . . . except for that $7 Billion part . . .