Yesterday LIBOR (see “Makers v. Fakers” below), today the Tribune Corporation.  Just how many high-priced accountants and attorneys did it take to craft an impregnable income tax shield for this teetering corporation–which went bankrupt anyway.  And in bankruptcy, how many more attorney/accountants did it take to wipe the corporation’s debt slate clean, largely at the expense of the “owner workers,” whose role from the get-go seemed more about exploiting tax loopholes than running the show? And finally, after the bankruptcy, how many more lawyers and CPAs did it take to come up with a sale structured to avoid and/or defer for years any taxes on the capital gains realized by the key investors who apparently did run the show? Shell games, indeed, though it looks as if the IRS is ready to pounce–but, of course, the attorneys and accountants stand ready to bill more high-priced hours fighting back.