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Treasury Handed Out $38 Billon Tax Exemption?

By Implode-Explode Heavy Industries

"The Internal Revenue Service on Friday issued an exception to long-standing tax rules for the benefit of Citigroup and a few other companies partially owned by the government. As a result, Citigroup will be allowed to retain billions of dollars worth of tax breaks that otherwise would decline in value when the government sells its stake to private investors"

Full post as published by Mortgage Lender Implode-o-Meter on December 16, 2009 (boomark / email).