Thursday, July 29, 2010

At Least From Pesky Bloggers

Interesting that while they're defending their overall efforts, no one really defends HAMP.

Criticism of the Obama Administration's mortgage bailout, the Home Affordable Modification Program, is reaching a fever pitch, and I know this because, among other things, the Administration itself appears to be mounting a defense.

Recently, reporters who cover housing were called to the Treasury Department for a "background briefing" by Administration officials, who tried to focus attention on the many, varied Administration efforts to stabilize housing; the message was...it's not all about our modification program.


The thing is they're sitting on $70+ billion dolllars...they could do something with it.