Before we get to new home sales, let's take a look at how the GSEs are doing. Please consider Fannie, Freddie Post Losses on Tax Credit Writedowns.

Freddie Mac posted a $6.5 billion net loss as it marked down $3.4 billion in low-income housing tax credits that the U.S. Treasury Department barred the McLean, Virginia-based company from selling, according to a filing today. Fannie Mae, which plans to report official results this week, said it’s taking a $5 billion charge for the same reason.
Freddie Mac, which buys mortgages and guarantees home-loan securities, has tapped $50.7 billion in Treasury preferred stock investment since November 2008 to remain solvent. While Freddie Mac avoided having to take more federal aid for a third straight quarter, the company said new accounting rules that took affect Jan.

Seeking to avoid taxes on bank accounts and sheltered income, Wealthy Greeks Send Money Abroad.

Wealthy Greeks are pulling their money out of local banks and sending it abroad, fearing increased government scrutiny on assets and a run on the banks if Athens is forced to turn to the International Monetary Fund, according to private bankers and other people with knowledge of the situation.
Part of the government's austerity package for this year is a declaration of war on income that hasn't been taxed.

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Zdroj: www.etrend.sk

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Zdroj: www.etrend.sk

by CalculatedRisk on 2/24/2010 10:15:00 AM

by CalculatedRisk on 2/24/2010 09:50:00 AM

by CalculatedRisk on 2/24/2010 08:12:00 AM