LIUNA Launches 'Pigs at the Trough' Tour

The Laborers' International Union of North America has announced that it will kick off a "Pigs at the Trough" tour April 3 in Los Angeles outside the annual meeting of KB Home to highlight the role of corporate homebuilders in creating the subprime crisis. LIUNA said homebuilders are seeking as much as $33 billion in tax breaks through the Foreclosure Prevention Act. "Corporate homebuilders helped create the current housing and mortgage crisis -- contributing to the loss of 232,000 construction jobs in 2007 alone -- by pushing buyers to subprime and high-risk loans through their own mortgage subsidiaries," the construction workers' union said. ".... At KB Home, for example, subprime lending increased 405% between 2005 and 2006. In the tax breaks homebuilders are seeking through the Foreclosure Prevention Act, KB could gain as much as $683 million." The union can be found online at http://www.liuna.org.