Builders: "We Won't Bribe Congress Anymore Unless they Pass Laws to Keep Housing Prices High"

[El Pinko]

Okay, I paraphrased the title a bit, but that's essentially what they're saying...


http://biz.yahoo.com/ap/080212/homebuilders_campaign.html?.v=2

Builders: No More Campaign Contributions
Tuesday February 12, 5:58 pm ET
Homebuilders Lobbying Group Cuts Off Contributions to Federal Congressional Campaigns

WASHINGTON (AP) -- 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."

[Nicholas D Wolfwood]

1. Morons.

They're not even doing the whole bribe thing right. They just lost whatever leverage they had in doing so.

[Winterblues]

5. I don't think they feel they have any leverage left since it is obvious

to almost all that Republicans are going to lose "Big Time" come November. They have donated overwhelmingly to Republicans and have been shit on..I wonder if they notice, or do they blame Democrats as well even though they had no say what-so-ever for that decade.....

[NMDemDist2]

2. maybe it's just because they are broke

and trying to sound noble, but the ledgers are bleeding red ink.....

[hobbit709]

3. My heart bleeds for them

:sarcasm: :nopity: :nopity: :nopity: :nopity:

[nolabels]

4. So they blow the advantage of a captive market and blame congress

Seems to me if they were really producing worthwhile product that wasn't LOSING value than they wouldn't need government trying to protect their business. They are now feeling the effect of their own contempt.

Can we say karma?

[lurky]

6. Sounds like a good deal to me.

[JPZenger]

7. Washington Post Article

http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021303699.html?nav=rss_business

By Jeffrey H. Birnbaum, Washington Post, February 14, 2008

Excerpts:

"The National Association of Home Builders, one of the top 10 corporate donors to politicians, has stopped contributing to congressional candidates after it failed to get what it wanted in recent anti-recession legislation. The association had unsuccessfully pressed lawmakers to adopt a provision to reduce the tax liability of home builders by allowing them to offset their past profits with future losses.

Election experts said the lobby's move illustrated how closely interest groups tie their donations to the decisions they hope lawmakers will take on their behalf -- a connection that usually goes unspoken. "This demonstrates in a starker fashion than we're used to seeing how groups use political contributions to promote their positions in Congress," said Kenneth A. Gross, a campaign finance lawyer at Skadden, Arps, Slate, Meagher & Flom.

"Lobbies like to pretend that congressional action and their donations aren't tied, " said Melanie Sloan of Citizens for Responsibility and Ethics in Washington. "But the home builders just confirmed that they are." Ethics lawyers routinely warn interest groups to avoid saying or implying that the money they provide to candidates compensates them for taking a position on a particular piece of legislation. Such quid pro quos could be considered illegal gratuities or bribes.

The home builders' announcement also explodes the oft-repeated assertion by politicians that lobbyists deal with them only at arm's length. "How many members of Congress have you heard say, 'People donate to me, but it has no effect at all'?" Sloan said. "What the home builders have done is expose the underbelly of the connection between money and politics."