WASHINGTON — 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.
The Treasury Department last
week blocked the mortgage giant from selling about $2.6 billion in
low-income housing tax credits to investors that included Goldman Sachs
Group Inc. Because the investors could use the credits to reduce their
own tax bills, Treasury said the sale would result in a loss of tax
revenue greater than the savings to the government.
"We have said
all along that we would make determinations based on what is in the
taxpayers' interests," said Andrew Williams, a Treasury spokesman.
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