Why are they still pumping out homes when there's a glut and no buyers? Idiots. ========================== Home builders from Florida to Texas are railing against the Federal Deposit Insurance Corp., saying the agency is cutting off construction financing from seized banks and demanding early repayment of current loans. The FDIC, which has become a leading advocate for modifying mortgages of financially strapped homeowners, isn't extending that same tolerance to the housing industry, the builders said. "They can do anything they want," said Earl Snyder, president of Snyder Construction Co. in Englewood, Fla., whose construction lender, Freedom Bank, was taken over by the FDIC on Halloween. Four days later, Mr. Snyder met with FDIC officials, and was told that he had 60 days to pay off his $2 million construction loan and he couldn't draw additional cash to finish 10 houses that he is building in southwest Florida. "I felt like a criminal and I had done something wrong," said Mr. Snyder. An FDIC spokesman said that construction loans tend to be "problematic" and the "FDIC must take into consideration what is in the best interest of the creditors of the failed banks."