Written by How do I know this? Because 3 years ago $45.6 Billion of TARP money was set aside specific to fix the housing problem. Housing was and continues to be the biggest drag on the economy.
And what happened to the $45.6 Billion? Only $2 Billion was used for completely ineffective programs such as HAMP and HAFA. The government, or more accurately, the people in charge of our government made the programs so complicated and useless that no one can actually qualify to get the money.
They did this for one of two reasons. Either they intended on making it too hard to qualify thereby keeping the housing market in the dumps or they are so incompetent they don’t know what to do. Both are viable answers considering the track record of our government officials.
And now that they can’t figure out a way to use the money, they have given up and are going to give the money back to the Treasury. Well done gentlemen. Way to fix the biggest single cause of the recession and the reason we are going to go into another recession, if in fact you believe we ever came out of the last one.
Please do not elect anyone currently in office. Please. I beg you. We will only get more of the same crap.
