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$0.11 (2.42%)
06:38PM (15 mins delay)
Oct 28, 2009 - 5:32 PM EDT
Stone Fox Capital submits:According to some news reports Tuesday, the U.S. Congress is gaining support for a Tax Loss Carryback proposal. We're not seeing a lot of news about this proposal but it seems to be something that would be very bullish for the worst off stocks in this economy. Any corporation that made a ton of money in 2004-2007 and is now losing truckloads of money would be able to reclaim some taxes paid in those previous years.
It could be a huge boon to financials struggling to raise capital or manufactures that saw boom years and now are struggling to make ends meet in these lean times. It seems odd that Congress would inact such a law to help the hated banks, but then again a lot of the smaller banks could use some help to stay afloat and continue lending. On the flip side, it would further help to support companies not allowing the best players to gain deserved market share. Some of the banks in strong capital shape might see less growth potential with such a bill.
Source: Seeking Alpha (Oct 28, 2009 - 5:32 PM EDT)
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