Even Before Enron: Banking Regulators, the Income Tax, the S&L Crisis, and Deceptive Accounting at the Supreme Court

Authors

Stephen B. Cohen, Georgetown University Law CenterFollow

Document Type

Article

Publication Date

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.

Publication Citation

5 Green Bag 2d 387-392 (2002)

Scholarly Commons Citation

Cohen, Stephen B., "Even Before Enron: Banking Regulators, the Income Tax, the S&L Crisis, and Deceptive Accounting at the Supreme Court" (2002). Georgetown Law Faculty Publications and Other Works. 957.
https://scholarship.law.georgetown.edu/facpub/957