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Posts Tagged with "foreclosure and distressed real estate"

Lennar’s trickle up ‘profits’

January 21, 2010

1) Lennar paid federal lobbyists $240,000 to win them a $320 million cash bailout characterized as a retroactive tax refund. 2) In the accounting for its fourth quarter report, announced on Jan. 7, 2010, Lennar used $284.9 million of the $320 million to offset its quarter losses. 3) Lennar then reported the remaining $35.6 million as profit, earned income. 4) Taxpayers, yet again, footed the bill.

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