Too Perverse to FailNow, courtesy of Democratic Rep. Brad Miller, we have a bill that would enable the Treasury to guarantee loans made to home-building companies. Banks apparently aren't lending enough to home builders, leaving certain areas short of housing, he says. Banks probably would lend if house and land prices fell to more sustainable levels. But with all the other support, that may not happen any time soon. So, applying the perverse logic of the Housing-Governmental-Complex, and the new orthodoxy in Congress of letting nothing fail, you can see where Mr. Miller is coming from.
http://online.wsj.com/article/SB1000142405274870395760457527290164930922
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If these industries want less regulation and a free market as they CLAIM, then they should stop whining for bailouts, tax breaks, and other forms of subsidies for housing. Prices of houses have been artificially inflated, loans have been turned into fraud, and those bad loans were sold as 'good' investments in a system rigged further by American corporations.
Predicted by everyone from bloggers to the FBI, the house of cards took out the economy and this industry has the gall to ask for more taxpayers' dollars and portray itself as the victim. Disgusting! Many of them should be in jail as any of the 'little people' would be had they orchestrated the same sham on America.
Google home builder fraud.
