THIS IS INEXCUSABLE

As Atrios has pointed out many times, the HAMP program has been a dismal failure and may contribute to huge Democratic losses in November.

Watchdog: Bailouts created more risk in system
Jan 30 11:59 PM US/Eastern
By DANIEL WAGNER and ALAN ZIBEL
AP Business Writers

Barofsky's report also disclosed that, while the Obama administration has pledged to spend $75 billion to prevent foreclosures, only a tiny fraction—just over $15 million—has been spent so far. Under the Making Home Affordable program, only about 66,500 borrowers, or 7 percent of those who signed up, had completed the process as of December.