Stimulus FAIL, Chapter 723


	Stimulus FAIL, Chapter 723

merrie

6-30-2009 3:24 AM

105 views

tags:

"hope for homeowners", democrats, economy, obama

merrie says:

Gee, I'm not real good at math, but if we omit the loans not under investigation, the Hope for Homeowners program is therefore responsible for... uhm... precisely one revised loan.

Well done, bureaucrats! On to health care and climate change!

Oh, and after all of the bad publicity, President Obama recently decided to revise the program.

I emailed in a suggestion that they call it Change the Hope for Homeowners program, but haven't received a reply yet.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color:#e5e5e5;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a69079b7-c17f-49bf-8dfd-9e6b678daea7/611F0ABD-CE65-40EE-A777-29CF84EC5280/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html" href="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html" style="font-size: 11px;">directorblue.blogspot.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html"><DIV><I>Via the excellent <A href="http://market-ticker.denninger.net/archives/1030-The-Economic-Tsunami-Is-Curling-Over.html">Denninger Market-Ticker</A></I>.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html"><DIV><A href="http://www.forbes.com/2009/05/07/lend-america-mortgages-business-washington-housing.html">We recently learned</A> that "Hope for Homeowners" made a grand total of..... wait for it..... 51 loans.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html"><DIV>FIFTY ONE?  No, that is not a misprint:</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html"><DIV>Senior federal housing officials say that of 51 loans made under the program, 50 were made by Melville, N.Y.-based Lend America, and those 50 loans are being held up pending ongoing federal investigations...</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/directorblue.blogspot.com/img/F6E53638-3CBB-495B-A713-32667BA10363" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html">...The officials, who insisted on anonymity because they are not authorized to speak on the matter, declined to offer specifics except to say anything from inadequate documentation to unethical practices could be the focus of the queries. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html"><DIV>Remember, "Hope for Homeowners" was <B>supposed to help four hundred thousand people stay in their homes</B>.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html"><DIV>The net closed loan count is fifty one over a period of six months.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://directorblue.blogspot.com/2009/06/stimulus-fail-chapter-723.html">Oh, and the reason for that article?  The company responsible for 50 of the 51 loans is under investigation by The Department of Justice!</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/611F0ABD-CE65-40EE-A777-29CF84EC5280/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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