Let's be real here. Banking isn't medicine or rocket science.
The IRS and State Tax departments seem to figure out how to author, enforce, audit and interpret complex regulation without the brilliant insight of investment bankers.
The IRS and State Tax departments seem to figure out how to author, enforce, audit and interpret complex regulation without the brilliant insight of investment bankers.
Though I agree that investment banking advice would be irrelevant here.
[1] http://finance.townhall.com/columnists/politicalcalculations...
The point is that the tax authorities, despite not practicing in any of a thousand different business practices is somehow able to effective police tax collection. The notion that banking is somehow so magically complex that government employees can't figure it out is ridiculous.