Wednesday, June 3, 2009

Meanwhile, Back at the Homefront

It was a small article, not the lead, in the New York Times, about how the Obama Administration's program to help troubled homeowners prevent foreclosure, is failing.  This is the second article with similar facts, that homeowners who ought to benefit from any relief, are being either ignored by their banks, or offered new loans with higher interest rates and even more fees.  The Administration, sadly, has no idea how many people the program has helped.  Which means, of course, they have no idea how many have been rejected by the lenders.

It's as if the banks listened to the public relations department and behaved for a few minutes in front of the cameras while President Obama chastised them.  It seems it was all a show.  Then those banks went back to business as usual, or even worse, banging away at the folks who have been responsible but are now on the edge, struggling a bit.  It's as if these behemoths want to rub-out the last remnants of middle class Americans.

And I keep wondering where is the outrage?

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