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The committee set up by the Democrats in Congress admit, the Obama "loan modification" program is "window dressing".
"One of the governments bailout watchdogs, the Congressional Oversight Panel, has some sharp words for the Obama administrations programs to fight foreclosures through loan modifications. In a report released today, the panel said the programs have failed to provide meaningful relief and appear to be little more than window dressing when it comes to helping desperate homeowners. The report also raised concerns about the scope of the programs, pointing out that even though the Treasurys stated goal was to offer three to four million loan modifications, the number of borrowers eligible for permanent modifications falls far short of that goal."
Obama made promises he knew could not be kept. But, he believed the poor and middle class would blame the banks, not him,for the failure of a program he sold as a "home saver". It was a vote buyer instead.
Obama promised this multi billion program would help six million homeowners. Instead, "According to numbers released by the Treasury today [4] (PDF), more than 230,000 homeowners have received permanent loan modifications."
Smoke, mirrors, lies and corruptions, that is the Obama policy, on any subject. How long will the America people put up with this Chicago style politics? This year, and for at least the next ten years, Washington will produce a trillion dollars addition to the deficit--this is one reason why. But, buying votes with tax dollars IS expensive.
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"One of the governments bailout watchdogs, the Congressional Oversight Panel, has some sharp words for the Obama administrations programs to fight foreclosures through loan modifications. In a report released today, the panel said the programs have failed to provide meaningful relief and appear to be little more than window dressing when it comes to helping desperate homeowners. The report also raised concerns about the scope of the programs, pointing out that even though the Treasurys stated goal was to offer three to four million loan modifications, the number of borrowers eligible for permanent modifications falls far short of that goal."
Obama made promises he knew could not be kept. But, he believed the poor and middle class would blame the banks, not him,for the failure of a program he sold as a "home saver". It was a vote buyer instead.
Obama promised this multi billion program would help six million homeowners. Instead, "According to numbers released by the Treasury today [4] (PDF), more than 230,000 homeowners have received permanent loan modifications."
Smoke, mirrors, lies and corruptions, that is the Obama policy, on any subject. How long will the America people put up with this Chicago style politics? This year, and for at least the next ten years, Washington will produce a trillion dollars addition to the deficit--this is one reason why. But, buying votes with tax dollars IS expensive.
More...