By Joseph Archibald If you are in need of finding the best business credit card offers around then its wise to keep a few things in mind. There are quite a few benefits to be had with a business credit card that are not to be had with all other credit card types, including rewards programs, large credit limits, expenses reports, lower interest rates on purchases, and not least the ability to include...
The U.S. Treasury blocks the proposed sale of low-income housing tax credits held by embattled mortgage lender Fannie Mae because officials have determined that the transaction would be too costly to taxpayers, according to media reports.
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 precisely zero value to the taxpayers, and allowed these firms to add to the piles of bailout monies already received by [...]
WASHINGTON , Nov 6 (Reuters) - The U.S. Treasury will block the sale of Fannie Mae tax credits to Goldman Sachs Group because the transfer would harm taxpayers, an administration official said on Friday.
WASHINGTON, Nov 6 (Reuters) - The U.S. Treasury will block the sale of Fannie Mae tax credits to Goldman Sachs Group , an administration official said on Friday.
The U.S. Treasury has blocked Fannie Mae's proposed sale of nearly $3 billion in low-income housing tax credits to Goldman Sachs and Berkshire Hathaway after concluding that the deal would lose too much money for taxpayers.
Some great posts this weekend over at "The Big Picture" by Barry Ritholtz; Barry is essentially the "trailblazer" of financial blogging and many a blogger has followed in his footsteps. In my piece this past week on the Berkshire Hathaway (BRK.a) Burlington Northern (BNI) buyout I didn't have time to get into it but detail oriented readers might of noticed this seemingly throwaway...
Timothy Birdnow Barney Frank aka the Congressional Buddy Hackett has pulled many boners in his day, er, poor choice of words, but you take my meaning. At any rate, everyone remembers the little fiasco where police raided Congressman Frank's home and broke up a gay prostitution ring, arresting the House Banking Committee Chair's toy-boy for the sale of tail, completely WITHOUT Frank's knowledge. How...
Battered mortgage lender Fannie Mae has sought claims to the tune of $15.8 billion from bankrupt Lehman Brothers, mainly related to derivatives contracts.
Isn't it amazing how some individuals in our society manage to keep their jobs? Barney Frank , democratic representative of Massachussetts, is one of those. How his past actions have not landed him in jail, if not at the very least kicked out of office, is mind-boggling. First, let's start with Frank's run-in with the law 20 years ago when he admitted to patronizing a male prostitute . According to...
Japanese baseball will have at least one American manager for the eighth consecutive year in 2010, as Marty Brown takes over as field boss of the Tohoku Rakuten Golden Eagles after four years managing the Hiroshima Carp. Trey Hillman began the string when he became skipper of the Nippon Ham Fighters in 2003, and the trend reached its peak in 2007 when there were four U.S. managers: Brown, Hillman,...
( EMAILWIRE.COM , November 07, 2009 ) Dallas, TX - Fannie Mae (NYSE:FNM) decreased 7.14% to $1.04 on a volume of 50.97 million shares after the company announced Thursday a policy under which thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae. The government-controlled company, through its new 'Deed for Lease' program, will allow borrowers...
Back in October 2008, then US Treasury Secretary Henry Paulson met with CEOs of the 9 largest US banks. During that meeting, it was reported that Paulson required the CEOs to take TARP money whether they wanted the money or not. In May, Judicial Watch released talking points taken from official documents from those meetings. The talking points used by Paulson in that meeting include the comment that
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