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Builders: No Soup for You! Come Back One Year!

Wednesday, February 13, 2008 | 12:47 PM

in Fixed Income/Interest Rates | Politics | Real Estate

What is funnier than this, I cannot imagine. My sides ache from reading it. (Dear Lord, please make it stop!)

To wit:

"The lobbying group representing homebuilders is cutting off contributions to federal congressional campaigns, saying lawmakers and the Bush administration have not done enough to stabilize the housing market.

The National Association of Home Builders said Tuesday its political action committee has decided to stop making contributions to candidates for Congress "until further notice."

Since 1990, the trade group has given nearly $20 million to federal candidates, with 35 percent going to Democrats and 65 percent to Republicans, according to the Center for Responsive Politics.

Lawmakers and the Bush administration, "have not adequately addressed the underlying economic issues that would help to stabilize the housing sector and keep the economy moving forward," the trade group's president, Brian Catalde said in a statement. "More needs to be done to jump-start housing and ensure the economy does not fall into a recession."

Gee, weren't these the same folks who were begging for rate cuts in 2001/02? Didn't they keep cheering when Greenie took rates down to 1%?

The builders group must be saying to themselves: How could you have made us build all those homes! What were you thinking?

I guess the concept of personal responsibility has little meaning to lobbyists. . .

Source:
Builders: No More Campaign Contributions
Tuesday February 12, 5:58 pm ET
Homebuilders Lobbying Group Cuts Off Contributions to Federal Congressional Campaigns
http://biz.yahoo.com/ap/080212/homebuilders_campaign.html?.v=2