“HAMP was a program designed to look good in a press release, not to fix the housing market,” Bair wrote. “Larry and Tim didn’t seem to care about the political beating the president took on the hundreds of billions of dollars thrown at the big-bank bailouts and AIG bonuses, but when it came to home owners, it was a very different story. I don’t think helping home owners was ever a priority for them.”
Sheila Bair
“…underminded by his aides…Geithner…Summers…” Nobody can know everything about everything. (Well, maybe some of us. :)) Obama has been undermined by his aides on several fronts. Most obviously by his Secretary of State. Look for better things to happen once all of these backstabbers leave after his re-election.
:Undermined by his aides” suggests that Obama had no comprehension of the intent of the HAMP program or its possible outcomes.
Is this the kind of hoodwinked person we want in the WH? Guiding out foreign policy? Economic well being?
This is highly damning criticism coming from Sheila Bair, and Romney would do well to harp on it. But, of course, he would have done the same or worse. Well, maybe not worse, since how much worse could he have done than the Obama team? They’re both lousy choices for our times and our needs.
Four days ago under cover of darkness, I lost a neighbor who moved out before the Sheriff’s eviction that was to follow the next morning. I didn’t know these details until my rearyard neighbor told me about the foreclosure. This was a father I didn’t get along with famously, but we would talk across the fence. Romney has openly stated that this family didn’t matter to him and that he wants these foreclosures to play out. Pompous patrician arrogant prick, but straight up on this. Obama has talked a great line and HAMP was his promise. Six year old Dominick who was in the first grade at the local elementary school just lost the only home and yard he’s ever known. I am betting that Dominick wouldn’t be any too impressed with Obama’s assurances on foreclosure. Neither am I, and I’m damn sore about this family’s loss. Of the five abbutting houses that make up our little suburban neighborhood, one has already gone through foreclosure evicting a Mexican American family with middle school age boys. The new owner’s timing wasn’t great and I am suspecting she may be underwater by a little. Two others are markedly underwater because of bad timing of purchase (a young couple with a toddler and one on the way) and an elderly couple that financed home improvements and are now fighting health issues uninsured for two more years before making Medicare. The remaining two households are getting by. We need an FDR at this moment. BHO is coming up a long way short of the challenge.