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Failed Homebuilders Get $15 billion Gift from Taxpayers

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February 10, 2009 – Comments (0)

Yup, you got that right. Rake it in and bank it during the bubble. Then cry to Congress when you whizz in your own punchbowl enough to make it undrinkable, and get a $15 gift from taxpayers.

--House -- $15 billion to allow companies to use current losses to offset profits made in the previous five years, instead of two, making them eligible for tax refunds.

Congratulations, Americans. Your representatives are dipping into your pockets now to support a different batch of failed CEOs.

Calculated Risk Discusses it here.

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