Coming soon to an economy near you, trouble:
Because Obama and crew don't understand how the economy works, delinquencies and foreclosures continue to rise. This, despite their best efforts.
In the first seven months of this year, [Wells Fargo] completed 240,000 modifications for Wells Fargo and Wachovia customers. About 20,000 of these modifications are part of the government's Home Affordable Modification Program.One-twelfth of all loan modifications performed by Wells Fargo qualify as the best benefit under Obama's HAMP program. Now check this out:
Loan mods were applied to maybe one-tenth of all delinquent or foreclosure-in-process mortgages? So Obama, for all the hype, will only "help" maybe 1 out of 50 homeowners struggling to pay their mortgage?
Meanwhile, Obama decided to finance Brazil offshore oil exploration to the tune of $2 billion.
If an average house payment for those delinquent homes were $2,000, Obama could have assisted 1 million Americans.
Now I'm not recommending that we start giving away money to help struggling homeowners. But it's real obvious that Obama has no intention of helping the little people who voted for him. He doesn't care about you. He never did. If you voted for him, you fell for the fancy words from the suit.
Don Henley said it well: "A man with a briefcase can steal millions more than any man with a gun."
You're being fleeced, America. Just ask car dealers.