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CAC3PARC 14
1 myself the other night, if somebody had said to me, and again I
2 apologize for the example, I won't try to belabor it. But
3 December 28 in year one if I gave 10,000 shares of IBM to a
4 charity and 10,000 shares to my daughter, right, and I said to
5 my broker just move them into those -- 10,000 to charity,
6 10,000 to my daughter. And the broker made a mistake. And
7 here's what makes it so tricky. The shares to the charity were
8 IBM; the shares to my daughter were Philip Morris. They
9 reversed it. The charity calls January 2nd and says we can't
10 take tobacco stock. We can't accept your gift. I call the
11 broker, I say what about this. He says we'll just reverse it.
12 It was our mistake. We'll send the Philip Morris to your
13 daughter and we'll send the IBM to the charity. And they
14 reverse it and they put as of December 28 because they reverse
15 it and do it at December 28 prices and it all shows up on the
16 January statement.
17 If I said to Mr. Parse, if I said to me -- the Court
18 may be situated differently, the Court's been educated by this
19 trial. If I said can I put that tax deduction on my year one
20 return, in that situation, even though it was mistake, it never
21 got accepted, I'd say I don't know, you should ask a tax
22 lawyer. And that's what Mr. Parse said. He made the
23 transactions, he made the change, not a single document at
24 Deutsche Bank reflected that this happened other than the as of
25 which was a reflection of what the pricing was.
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