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Fannie Mae may seek more aid; tax credit decision could cost $5.2B

USA Today - Mon Nov 9, 6:55 pm ET

Fannie Mae said Monday it may have to ask the government for more financial assistance because the company cannot sell $5.2 billion in tax credits.

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Fannie May Write Off $5.2 Billion in Tax Credits
New York Times - Mon Nov 9, 2:56 pm ET
The Treasury found an agreement to sell about half of Fannie Mae’s credits would have cost taxpayers more than the company would have gained from the deal. Goldman could have used the tax credits to lower the firm’s tax bill.
Why The Pursuit Of Innovation Usually Fails
Forbes - Tue Nov 10, 1:42 am ET
It's not what we're trained for as leaders or how our businesses are set up to work.
Treasury denies Fannie Mae tax credit plan
Rocky Mount Telegram - Mon Nov 9, 2:41 pm ET
WASHINGTON — Government controlled mortgage provider Fannie Mae said Monday the U.S. Treasury ...
Fannie May Write Down $5.2 Billion in Tax Credits (Update3)
Bloomberg - Mon Nov 9, 4:42 pm ET
Nov. 9 (Bloomberg) -- Fannie Mae is reviewing whether it will have to write down $5.2 billion in low-income housing tax credits after the U.S. Treasury rejected its request to sell the investments, the mortgage-finance company said today.
Treasury Halts Fannie Mae Tax Credit Sale
Financial Planning.com - Mon Nov 9, 7:38 am ET
The Treasury Department Friday rejected a proposal for Fannie Mae to sell $2.6 billion, or roughly half, of its unused low-income housing tax credits to two unidentified investors believed to be Goldman, Sachs & Co. and Berkshire Hathaway Inc.
Be a Penny Stock Millionaire!
The Motley Fool - 2 hours 44 minutes ago
The story of Wal-Mart's rise from a $21.5 million capitalization.
Fannie Mae Redemption
PR Newswire via Yahoo! Finance - Mon Nov 9, 9:00 am ET
Fannie Mae will redeem the principal amount indicated for the following securities issue on the redemption date indicated below at a redemption price equal to 100 percent of the principal amount redeemed, plus accrued interest thereon to the date of redemption:
Bear’s Cioffi, Tannin Fraud Prosecution Goes to Jury (Update2)
Bloomberg - Mon Nov 9, 7:42 pm ET
Nov. 9 (Bloomberg) -- Jurors in the securities fraud prosecution of former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin began deliberations following a month-long trial, one of the first tests of whether the U.S. can prove criminal conduct in the subprime mortgage collapse.
Calendar Of Investment-Grade Debt: Agency Bills
Nasdaq - Mon Nov 9, 5:17 pm ET
Fannie Mae: Three- and six-month benchmark bills are auctioned on a weekly basis. One-year bills are auctioned once a month. Every Monday, an announcement is made and on Wednesday the auctions are held. Settlement usually scheduled for Wednesday or Thursday.
Tax Credit Decision Could Cost $5.2 Billion
The Memphis Daily News - Tue Nov 10, 1:02 am ET
WASHINGTON (AP) - Fannie Mae said Monday it may have to ask the government for more financial assistance because the company cannot sell $5.2 billion ....
Extended tax credit should spur home sales
Everett Herald - 7 minutes ago
There was a lot of news on the real estate front last week. You probably heard that President Barack Obama signed a bill extending and expanding the $8,000 tax credit for first-time homebuyers.
Japan Tops China Buying Treasuries After Lost Decade (Update3)
Bloomberg - Mon Nov 9, 2:26 pm ET
Nov. 9 (Bloomberg) -- Japanese investors who lived through a decade of deflation and recessions say U.S. Treasuries are a bargain even with yields at about the lowest levels since at least the 1960s.
Mortgage-Bond Prices Tumble After Months of Gains (Update1)
Bloomberg - Mon Nov 9, 2:06 pm ET
Nov. 9 (Bloomberg) -- U.S. home-loan bonds without government backing slumped after almost three months of gains, as supply overwhelmed demand amid concern that the housing market hasn’t bottomed.
Feds close bank with Napa branch
Napa Valley Register - Tue Nov 10, 2:21 am ET
Visitors to the Napa branch of Pacific National Bank customers were in for a surprise this week when they saw a new name on bank doors.
Business briefs
The Sarasota Herald-Tribune - Tue Nov 10, 1:07 am ET
WASHINGTON Fannie Mae says it might need still more