The tax provisions of the Foreclosure Prevention Act, which consumer groups and labor leaders say amount to government handouts to big business, show how the credit crisis, while rattling the housing and financial markets, has created beneficiaries in the power corridors of Washington. Full Story »
Posted by Melva Hackney
The article is narrowly focused, on the Senate version of an economic stimulus act. A comparison to the different House version and some commentary from various economic points of view would be helpful. Links are not germane to the topic. The crux of the issue is that there is no comprehensive economic plan to cope with what appears to be developing into a catastrophe. Instead, following an honored political strategy, congress is throwing money at strong lobbies.
