Cons Clip Fed Funds

As a hard-working American, you will be pleased that your elected officials have not been so over-burdened with two wars, the BP oil spill and normal everyday sex scandals that they have been unable to do what you sent them to Washington to do.

No, they have been fully focused on solving the housing crisis for YOU the taxpayer … and for 1,300 prison inmates.

While it could be said that as prisoners, these 1,300 men already have a home, your elected officials wanted better for them.

The inmates, including 241 who are serving life sentences, claimed they had purchased homes and received more than $9.1 million in tax credits.

The Obama Administration reacted quickly to this “hiccup in an otherwise stupendously successful federal program,” directing the IRS to “tidy things up”.

“The IRS will follow up on every instance of improper prisoner payment and take swift and appropriate enforcement actions. In many cases, this will find the inmates being housed in 5-star hotels while they are tried for crimes that could put them in prison… where they are now… never mind…”

While this first-time home buyer program has well served these inmates, and another of the nation’s underprivileged classes, realtors, it, sadly, was not able to address a housing tragedy in Orlando.

A $75 million mansion is having to be sold “as is”, after timeshare tycoon David Siegel halted construction of “Versailles” due to the recession.

Versailles may be the largest home in the U.S. at 90,000 square feet, with 13 bedrooms, 23 bathrooms, a 20-car garage, a baseball field and two-story movie theatre, but it does NOT have carpet, tiles or interior walls. The new owners will have to finish the home, which is just down the street from Tiger Woods’ Orlando mansion.

The Obama Administration and California state housing officials are working to prevent yet another housing crisis.

Meanwhile, reports are circulating amongst Pasadena realtors that a group of wealthy real estate investors – “N. Jail Inc.” – have made a $9.1 million down payment on Versailles and are in discussions with Bernie Madoff to finance the remainder.

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