But stop right there. Beazer Homes USA, which is being investigated by the FBI, the IRS, HUD and the N.C. Real Estate Commission for its shady lending practices, would be eligible?
Giving businesses a free ride on income taxes they'd owe on canceled debt is a good point to debate as Washington mulls how to get the biggest bang for the buck jumpstarting a moribund economy.
No! No! A thousand times no!
This policy may be sound. But not if it puts money in the hands of irresponsible companies who caused so much of the current pain.
The company has admitted its employees violated federal lending rules, including funny business with down payments. Its tactics left 10 neighborhoods in Mecklenburg County with foreclosure rates of 20 percent or higher. Know what that means? Unstable neighborhoods that drag down everyone's investments and quality of life.
Before we give breaks to scoundrels who admitted they violated fed rules we ought to put dollars in the hands of people who were their victims, and who are at risk of losing their homes.
- posted by Mary Schulken