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baselinescenario.com - 28 days ago

Tax Credits, Screwdrivers, and Supply and Demand Curves

— baselinescenario.com — Our Washington Post online column today is another cry in the wilderness against the homebuyer tax credit. There are many arguments against the tax credit. One argument we make is that the tax credit is a benefit for sellers of houses more than for buyers of houses. This is simplest to see ... (more) Tax Credits, Screwdrivers, and Supply and Demand Curves

Housing Market

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alephblog.com - 22 days ago

Fannie + Goldman + US Treasury + Tax Credits = Complex Mess

— alephblog.com — In a prior job, I spent a decent amount of time on Affordable Housing tax credits . The idea was to reduce my life insurance company client’s taxable income to the point where they would be close to but not subject to the corporate alternative minimum tax. Occasionally my work would ... (more) Fannie + Goldman + US Treasury + Tax Credits = Complex Mess

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US Treasury

Housing Market

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ritholtz.com - 16 days ago

Treasury DKs Goldman/Fannie/BRK Tax Credit Scam

— ritholtz.com — Due to an unexpected outbreak of rationality and perhaps embarrassment, the Treasury department has rejected requests of Goldman Sachs and Berkshire Hathaway to purchase Tax Credits from Fannie Mae. This paper transaction would have provided ... (more) Treasury DKs Goldman/Fannie/BRK Tax Credit Scam

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Berkshire Hathaway

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Fannie Mae

Comments vote downundo vote up Abnormal Returns found this 16 days agofound this

Blog Reactions

FT Alphaville:  Goldman eyes Fannie tax credits

DealBook:  Goldman Said to Eye Fannie Mae's Tax Credits

Dealbreaker:  Opening Bell: 11.02.09

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Minyanville:  Regulators Delay Bursting of Commercial Real Estate Bubble

24/7 Wall St.:  Today’s Best Market Rumors (11/2/2009) (BK)(ODFL)(PALM)(AAPL)

The Aleph Blog:  Fannie + Goldman + US Treasury + Tax Credits = Complex Mess

The Big Picture:  Afternoon Reads

Reactions

eisenhofer: Goldman Looks to Buy Fannie Tax Credits (WSJ) http://bit.ly/wUjwJ http://s-a.cc/nlBz0 9 days ago

Goldman Sachs gets paid for from Bankruptcy of CIT? WHY? & http://online.wsj.com/article/SB125712159288021753.html 22 days ago

Goldman wants to avoid taxes http://online.wsj.com/article/SB125712159288021753.html 22 days ago

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Goldman eyes Fannie tax credits
FT Alphaville — Goldman Sachs is in talks to buy millions of dollars of tax credits from state-controlled mortgage giant Fannie Mae, but the potential deal is running into opposition from the US Treasury, which could block the deal, reports the WSJ. A sale would bring some needed financial respite to Fannie Mae. But the administration is wary of approving a deal that would help Goldman reduce its tax bill, amid public criticism of Wall Street firms.

Goldman Said to Eye Fannie Mae's Tax Credits
DealBook — ... A Goldman spokesman had no comment. Spokespeople for Fannie and the Federal Housing Finance Agency (FHFA) were not immediately available for comment. Fannie Mae, the mortgage giant controlled by the U.S. government, could get financial relief if Goldman bought the tax credits, The Journal noted. Goldman could line up other investors for the deal as well, according to the newspaper. Tax credits are incentives designed to bring more investment to low-income housing developments. Go to Article from The Wall Street Journal » ...

Opening Bell: 11.02.09
Dealbreaker — Goldman Looks To Buy Fannie Tax Credits (WSJ) Not so fast says Fannie's keeper: "A sale would bring some needed financial respite to Fannie Mae. But the administration is leery about approving a deal that would help Goldman reduce its tax bill, given the animus held by many lawmakers toward big Wall Street firms in general and Goldman in particular. The Obama administration is looking at the deal with a critical eye and could block it. Goldman, meanwhile, is hopeful it could win approval this week." Pandit 'Near Death' Cash Hoard Signals Lower ...

Regulators Delay Bursting of Commercial Real Estate Bubble
Minyanville — ... modification programs introduced by the Bush Administration and continued by Obama and his ilk, is to allow big banks like Citigroup ( C ), JPMorgan ( JPM ), and Bank of America ( BAC ) to forestall the recognition of losses, trying to delay the inevitable bursting of the commercial real estate bubble. With Wall Street's collective eyes focused on Monday's headlines -- CIT's ( CIT ) bankruptcy , Goldman Sachs ( GS ) picking up tax credits from Fannie Mae ( FNM ) and Freddie Mac ( FRE ), and of course the ...

Today’s Best Market Rumors (11/2/2009) (BK)(ODFL)(PALM)(AAPL)
24/7 Wall St. — ...  of NBCU from GE (NYSE:GE) is imminent, as usual.  (NYTimes) Goldman Sachs (NYSE:GS) is considering buying  Fannie Mae (NYSE:FNM) tax credits (WSJ) Bank of NY Mellon’s (NYSE:BK) CEO ...

Fannie + Goldman + US Treasury + Tax Credits = Complex Mess
The Aleph Blog — ... , WSJ)  Both business and politics end up worse off when they are not kept as separate as possible, so that the ordinary conflicts between the two stay at the level of business pushing back over regulations and the government attempting to correct business abuses. ...

Afternoon Reads
The Big Picture — Most linkfests involve me discussing what I have read. Today, I am posting a list of what I would be reading, if I was doing my normal commute, time in the office, etc. • Jittery Companies Stash Cash (WSJ) • Please Listen to Sheila Bair (Dealbook) • The Easy Money’s Been Made (Barron’s) • Can Citigroup Carry Its Own Weight? (Sunday NYT) • Goldman Looks to Buy Fannie Tax Credits (WSJ) • Left/Right Politics gets interesting: -The GOP Establishment ...