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lquadland10 (< 20)

Goldman in talks to buy Fannie tax credits -WSJ

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November 01, 2009 – Comments (4) | RELATED TICKERS: SLV , AUY , GLD

Yep. Here we go again with GS. Yep the good old boy back room cigar smoking you scratch my back I will scratch yours goes on. GS Treasury. GS IMF and then the GS Hedge Fund/Bank rulers of the United States.

* Goldman seeking millions of dollars of tax credits

* Administration wary; deal would help Goldman cut tax bill

* Will only approve if in taxpayers' interest - Treasury (Adds Treasury, Goldman comments)

NEW YORK, Nov 1 (Reuters) - Goldman Sachs Group Inc (GS.N) is in talks to buy millions of dollars of tax credits from Fannie Mae (FNM.N), but the U.S. Treasury could block the deal, The Wall Street Journal reported on Sunday.

Goldman hopes to win approval this week, but the administration is wary about approving a deal that would help the bank reduce its tax bill, the Journal reported on its website.

"Treasury is reviewing and will not let it proceed unless it is clearly in the taxpayers' interest," Treasury spokesman Andrew Williams said, without providing further comment or details.

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 reported.

Goldman could line up other investors for the deal as well, according to the paper.

Tax credits are incentives designed to bring more investment to low-income housing developments. (Reporting by Anupreeta Das, Timothy Ahmann and Corbett Daly; Editing by Bernard Orr and Ian Geoghegan))

U.S. Treasury could block the deal,   Right like GS Geithner ex GS will stop the deal for his buddies.  I feel my skin turning purple with orange stripes. Yep change we can believe in. GS get a tax break if the deal goes through. Obama. Bush Clinton Bush Carter and Reagan. It does not matter they are the same. All puppets. Who besides GS are the other puppet masters?

 

4 Comments – Post Your Own

#1) On November 01, 2009 at 11:56 PM, Imperial1964 (97.93) wrote:

I didn't think that was legal.  Wow.

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#2) On November 02, 2009 at 12:08 AM, Ewok82 (29.48) wrote:

George Soros.

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#3) On November 02, 2009 at 10:58 AM, lquadland10 (< 20) wrote:

Yep. Oh and none of this is legal for the last 2 years.

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#4) On November 02, 2009 at 12:12 PM, blake303 (29.51) wrote:

The sale of tax credits is not illegal. Any company can purchase tax credits to reduce their tax burden. GS is PAYING for the credits, not getting a favorable tax treatment from it's buddies. The money used to purchase the credits is used as equity in the development of affordable housing, which is a program that has been in effect for decades. Why wouldn't you want a private company that has paid back its TARP money to improve the financial position of a company being propped up by the government?  Wouldn't that be in the best interest of tax payers? 

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