Senator Grassley, the ranking Republican on the Senate Finance Committee, calls for the Treasury Inspector General to investigate Notice 2008-83, the ruling that allows banks to ignore the Section 382 "built-in loss" rules when acquire a bank with bad loans.
The ruling provides an important benefit to Wells Fargo in its acquisition of Wachovia. Wells Fargo is a big employer in Des Moines.
Related: Bank Section 382 Ruckus
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