Foreclosure Defense Florida

US INSPECTOR GENERAL: Banks Got Bailed Out, Consumers Got Screwed.

bank-bailoutsWe all know that we are no longer a government , “For the People”. Ours is a government for Wall Street and for the banks.   Nowhere is this more directly on display than in the housing/financial crisis and especially apparent with the HAMP/TARP program.   The US Taxpayer funded the program with billions of taxpayer dollars it it resulted in just over 500,000 modifications.

The most disturbing thing about all of this is the lack of outrage. From the New York Times:

Treasury, however, provided the money to banks with no effective policy or effort to compel the extension of credit. There were no strings attached: no requirement or even incentive to increase lending to home buyers, and against our strong recommendation, not even a request that banks report how they used TARP funds.

New York Times

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