Tuesday, January 10, 2012

Obama's greatest failure as POTUS?

One of Obama's greatest, tragic failures as President has been his willful neglect of mortgage borrowers in distress.

By contrast, when the Too Big To Fail (TBTF) banks were in trouble, starting in 2007, help from Congress, Treasury and the Fed was overwhelming (in the $ trillions, not $ billions) and above all FAST, with so little oversight that to this day we don't know who got loans why and under what terms and conditions.

But help for distressed homeowners has been almost nil, ostensibly because of poor administration and contradicting directives, but in fact because of Obama's lack of interest and political will.

It just goes to show that Obama is Wall Street's boy, not Main Street's.

By Loren Berlin
December 9, 2012 | Huffington Post

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