Obama's ongoing failure: $26 B fraud settlement not going to borrowers

It's stories like this that make me despair of choosing between Republican (Romney) and Republican Lite (Obama) in this November's elections.  

If Obama really cared, he would have leaned on the banks, via his HAMP program, to modify at least 800,000 mortgages, keeping 800,000 families and about 2 million Americans in their homes.  

Meanwhile, states are not giving $26 billion in settlement money from banks to help distressed borrowers; they're using that money to pay for tax cuts for the rich and to plug other budget holes.  

It's outrageous and pathetic.  Yet you won't hear about it from the lamestream media.  #OWS isn't out there protesting about it.  Democrats don't mention it in their campaign speeches.  Nay, underwater borrowers-homeowners -- the biggest drag on the U.S. economy -- are completely on their own.  

Below the Fold: Where did the $26 Billion go?

By Richard Zombeck

September 14, 2012 | Huffington Post

URL: http://huff.to/TSIPPw