More Money Please (FNM)

Symbols: FNM, GS
Posted in: News, Politics
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Fannie Mae (NYSE: FNM) is seeking more cash from Uncle Sam after the Treasury Department blocked the sale of $2.6 billion in low-income housing tax credits by Fannie Mae to Goldman Sachs (NYSE: GS) and Berkshire Hathaway (NYSE: BRK.A, BRK.B) last week.

Fannie Mae requested $15 billion in financial aid last week after reporting a $19.8 billion quarterly loss. That brings Fannie Mae's tab with U.S. taxpayers to $60 billion.

If Fannie Mae can't get some cash to cover $5.2 billion in tax credits, it may have to book a loss for the credits for the current quarter.


 
 
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