Saturday, January 16, 2010

Mortgage failure

The Obama administration's mortgage relief plan provided help to only 7% of borrowers who signed up last year, another black mark for the struggling program. . . . As of last month, only about 66,500 homeowners of the 900,000 enrolled had received permanent relief last year, the Treasury Department said Friday. Another 46,000 have been approved and should be completed soon.

The government spent billions bailing out Obama's Wall Street campaign contributors - - the banks and insurance companies and brokerage firms - - and did next to nothing for the upside down mortgaged homeowners.

When Republicans do this, we scream about the unfairness of "trickle down economics".

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