First there was a settlement in which not a single employee or executive at any of the 12 financial institutions responsible for stealing people's homes in fraudulent foreclosures has been indicted, and where the amount set aside for victims' compensation payouts are almost a joke. Now the IRS is going to let these banks write off this compensation as a business expense so that it ends up coming out of everyone else's taxes.
This coddling of wealthy criminals has to stop somewhere. Tell the IRS that it's a mockery of the rule of law to let banks write off penalties for deliberate fraud on their taxes. Tell them to reverse their decision. The rest of us have paid enough for Wall Street's crimes.