Bailout Cops Brand Obama Mortgage Program a FAIL
Did you really need the Bailout PD to tell you administration mortgage initiatives have failed and Treasury refuses to make it better? I am fairly sure that anyone who has actually tried to stay in their home in the last two years could have told you exactly that and then some.
Government watchdogs on Wednesday raised a red flag over the Obama administration's program for helping homeowners avoid foreclosure, saying the multibillion-dollar fund is not working and the Treasury Department refuses to fix it.
Warning that the inefficiencies could hold the economy back, the officials told a Senate panel that changes should be made and that Treasury needs to come clean. One official called the program "one of the greatest failures in transparency and accountability" in the $700 billion bailout.
No, the greatest failure in transparency was the part where crooked pinky alien Hank Paulson went in front of Congress begging for the money and said they'd use it to buy crap assets and then turned around and created a bailout slush fund for banks. And the accountability part was pretty much a given since there's no such thing within the confines of the District of Columbia. Duh.