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.”
Tags: 12th Street Capital, big hat no cattle, failed financial regulation, fraud in mortgage modifications, government support for housing, HAMP April 2010, Home Affordable Modification Program, mortgage fraud, Neil Barofsky April 20 2010, SIGTARP report april 20 2010, TARP, Tim geithner on HAMP, U.S. Treasury on HAMP
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