From the TUC

Fannie, Freddie and tax avoidance

11 Sep 2008, by Guest in Economics

Richard Murphy notes the news that corporate tax avoidance was central to the weakness of Fannie and Freddie. “Deferred tax” was a key part of the work Richard did for the TUC in The Missing Billions.  The pamphlet critiqued deferred tax for the vast sums this technique denies to public funds. The fact that it may also have played a part in the current global crisis is obviously of enormous importance.  How many UK banks are playing the same dangerous game?

One Response to Fannie, Freddie and tax avoidance

  1. Are banks relying on deferred tax as part of their capital here? | called2account
    Sep 11th 2008, 12:00 pm

    […] Adam Lent of the TUC has asked an obvious question following on from my blog about Fannie Mae and Freddie Mac relying on deferred taxation as part of their capital structure. As he puts it: […]