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Treasury’s Housing Program: “Big Hat, No Cattle”

Posted by Larry Doyle on April 21st, 2010 12:04 PM |

High five to 12th Street Capital for pointing out the quarterly release of the Special Inspector General for the Troubled Asset Relief Program. While this report covers a wealth of topics, let’s zero in on the SIGTARP’s summation of the Treasury’s HAMP (Home Affordable Modification Program).

As our friends at 12th Street write:

Ultimately, the report goes on to focus on HAMP and I would say this sums it up best:

“In sum, until Treasury fulfills its commitment to provide a thoughtfully designed consistently administered, and fully transparent program, HAMP risks being remembered not for catalyzing a recovery from our current housing crisis, but rather for bold announcements, modest goals, and meager results.”

(more…)






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