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...credit from its November acquisition of Wachovia. PNC, which bought National City in October, could get as much as $5 billion in tax benefits from that merger. And Capital One, which bought Chevy Chase Bank earlier this month, is looking at a $500 million tax windfall. Investment Losses Now Count for More...

Author: /time Magazine | Title: New Tax Rules: The Hidden Corporate Bailout | 12/10/2008 | See Source »

...October, Congress passed a law that said banks who held Fannie Mae and Freddie Mac preferred shares, which were essentially rendered worthless when the government took over the two large mortgage guarantors, can count the loss on that investment as a regular business loss, not an investment loss. The Federal Government has estimated the change will save banks as much as $3 billion in tax payments this year. Improved Tax Break on Foreign Operations...

Author: /time Magazine | Title: New Tax Rules: The Hidden Corporate Bailout | 12/10/2008 | See Source »

...drinking despair was the discovery of another problem: although my body violently resisted alcohol’s advances, my mind, speech, and motor skills were all too happy to desert me at the slightest whiff of the poison. My DAPA Nalgene tells me that 78 percent of Harvard students count how many drinks they have, but it’s much harder to keep track when all it takes to go from being flushed and tipsy to flaming and totaled is five-sixths of a beer...

Author: By Nan Ni, CRIMSON STAFF WRITER | Title: 21! Here Nan Comes! | 12/10/2008 | See Source »

...count the number of times I’ve gotten truly, blissfully wasted on the fingers of one hand, since I can only reach that state of nirvana with the right combination of Pepcid AC, napping, prayer, self-delusion, and entire bottles of Shiseido concealer. Due to both the rarity of my escapades and the inconvenience of carrying around a pipette and graduated cylinder to measure the miniscule amounts I can drink, I am only slightly more experienced at being drunk than the most sheltered of pre-frosh. Perhaps as a result, every time that I’ve cleared...

Author: By Nan Ni, CRIMSON STAFF WRITER | Title: 21! Here Nan Comes! | 12/10/2008 | See Source »

...Wipes don't smell like something that could disinfect a donkey. I don't recommend using them on hands (they're too drying), but the formulation works great on inanimate objects like cell phones, computer keyboards and anything with a touch-screen or pad. Price: $2.95 for a 10-count pouch; available at Bed Bath & Beyond beginning in January...

Author: /time Magazine | Title: Travelers' Aids: Germ Fighting Never Smelled So Sweet | 12/5/2008 | See Source »

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