corporate bailouts

More Welfare for the Housing Sector

It wasn't enough to bailout the financial conglomerates with $12 trillion and then provide a first-time homebuyer tax credit that helps them and homebuilders. No, that wasn't enough. Homebuilders needed something more direct and definite. How about huge corporate tax refunds? That's the ticket.

That's right - huge tax refunds to another industry that benefited tremendously from the cheap money that was flowing like water. Now they are helped on the down side And what about us - fu*k the little guy - foreclosures and unemployment keep increasing.

NYT has the story.

ON Nov. 6, President Obama signed the Worker, Homeownership and Business Assistance Act of 2009 into law, extending unemployment benefits by 20 weeks and renewing the first-time homebuyer tax credit until next April.