Expect the "Practically Virtually Impossible"
MishTalk
DECEMBER 2, 2013
The collapse of Spanish housing left the banking system with as much as 51 billion euros of deferred tax assets(DTAs), mostly from 2011, that can be used against future profits for as long as 18 years. Multimillion dollar losses banks have generated billions in tax credits in just two years. Why 100 billion?
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