April 15, 2010

We're from the Federal Government and We're Here to Help

From the April Congressional Oversight Panel report on the TARP Foreclosure Mitigation Program:

Treasury’s response continues to lag well behind the pace of the crisis. As of February 2010, only 168,708 homeowners have received final, five-year loan modifications – a small fraction of the 6 million borrowers who are presently 60+ days delinquent on their loans. For every borrower who avoided foreclosure through HAMP (Home Affordable Modification Program) last year, another 10 families lost their homes.

I don't know about you, but boy am I glad the Federal Government is taking over our health care industry.

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