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$700 billion financial rescue package "essentially meaningless"

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posted on Mar, 25 2010 @ 08:35 AM
Did a couple of searches and didnt find this posted yet but we all know how wonderful the searching is around here:

The Obama administration's $75 billion program to help homeowners risks failure by, "merely spreading out the foreclosure crisis," a top government watchdog said Tuesday.

Neil Barofsky, the special inspector general over the $700 billion financial rescue package, slammed the administration's housing program for having ill-defined metrics and for helping far fewer homeowners than originally proposed.

Barofsky's report said it is possible the program only benefits half of the three or four million homeowners originally envisioned. Among other data, the program measures trial modifications, a metric Barofsky faulted for being, "essentially meaningless." The number of permanent modifications could wind up being a small share of the millions of foreclosures filed in this year and during the past two years.

Yet again nobody spends your money quite as well as the government. We just gotta help now, now, now!!!!! There are times for thinking and times for doing and this is no time to think!!!! At least that's how the gov's been doing things lately.

It's like they pass a "poverty bill" that consists of dropping a million dollars from a helicopter.

Link to Story

[edit on 25-3-2010 by thisguyrighthere]

posted on Mar, 25 2010 @ 08:58 AM
Where is the link?

Do you have a link or are you just making up stuff? It's hard to make an objective decision without a link to the original source material.

posted on Mar, 25 2010 @ 10:04 AM
Oops! Totally forgot THE LINK.

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