NEIL BAROFSKY: The Treasury Betrayed Its Promise To American Homeowners
Everyone's talking about NYU Professor Neil Barofksy's new book, 'Bailout: An Inside Account of How Washington Abandoned Main Street to Save Wall Street.'
That's because, besides giving us a taste of Tim Geithner's potty mouth, it's full of intense details about how the financial bailout sausage was made. So obviously the book's a little ugly, a little depressing... and available for your consumption tomorrow.
Until then, make due with this Bloomberg column by Barofsky in which he spells out why the government is still failing to control banks, their size, and how they're negatively impacting our economy. The first and most major reason he cites is simple — The Treasury gave up on American homeownership.
The Home Affordable Modification Program was supposed to help Americans struggling with their mortgages get above water again, but it's moving an incredibly slow pace. As of March 31st, 2012 the number of homeowners helped had only reached around 800,000.
http://www.businessinsider.com/neil-barofsky-bloomberg-column-2012-7#ixzz21SUGDMjH
= new reply since forum marked as read
I only found mine by accident anyway.
