Bank and Builder Bailout

The Senate proposes to reward builders and the twisted sprawl financing  machine with $6 billion in tax credits to fix their over leveraging "mistakes".  They drag down the entire economy and get to keep their paychecks in the name of building more sprawl housing (Because NAR says to.)   

Common Dreams calls it the Bank and Builder Bailout Act, aka Foreclosure Prevention. 

Alan Farago describes this pathetic attempt to rescue housing in Counterpunch:

It's also a form of quintuple taxation: first you bought the dream, then you paid the taxes on the dream. Now you are subsidizing-a third time-the purveyors who were egged on, relentlessly, by Wall Street financiers and lawyers taking down billions in fees and bonuses for structured finance, CDO's, CMO's, and derivatives on derivatives as the whole house of cards built to gargantuan size, spreading suburbs into ten thousand valleys, wetlands, and watersheds, now imposing the quintuple costs of law enforcement to bring in the fraud and courts swamped by the volume of illegal activities.