A Morgenson Article Yesterday to Study

For the tax geeks, but it's a big hole in our country's ability to collect taxes. GE's entire success in the 1990's is from this loophole as GE bought a brokerage -- I forget which one -- that had billions in losses GE could use to avoid paying taxes on GE's billions of profits. When "billions" meant something.

http://www.nytimes.com/2009/05/31/business/31gret.html