GRITtv: The F Word: Bonanza for Big Builders

I just don't get it. When Congress approves gifts worth billions of dollars to exactly the people who don't deserve it, why isn't it front page news? On Nov. 6, when President Obama signed the Worker, Homeownership and Business Assistance Act of 2009, he extended unemployment benefits and renewed the first-time homebuyer tax credit, but hidden deep inside the law was a bonanza to exactly the big home builders that overbuilt us into a mortgage meltdown. The tax break would help struggling businesses, Obama declared. But the act actually lets big companies as well as small offset losses incurred in the bad years of 2008 and 2009 against profits booked as far back as 2004. In case you were wondering, there's no requirement that companies claiming the tax refunds create jobs with it or need any of that cash. What the companies are likely to do is keep on lobbying. How about reporting on this -- before it's a done deal -- on the front page?