Thursday, June 02, 2011


There was a lot the administration could have done with the blessing of President Snowe. There's probably less of that going forward, though there are things they could do. But more than that, I have no idea what the administration (Obama, Treasury, others, whoever) thinks they should do. I know what they didn't think they should do - cramdown, a HAMP that actually did what they initially claimed, aggressively prosecute mortgage fraud - because they aren't doing those things. I don't know if there's anything they would like to do that they are being stopped from doing. A discussion of what they could do is ultimately a discussion of "why the hell aren't they doing it?" And the answer, presumably, is because they don't want to.