The LA Times had the goods on the Treasury Department’s Hardest Hit Fund a month ago, showing that in California, the fund only paid out 2% of its allotment in the first 16 months. But that was about one state’s implementation of the program. Maybe other states did better. Well, the answer is no. An [...]

The news that the House of Representatives voted to end HAMP, the failed mortgage modification program of the Obama Administration, is not particularly noteworthy. The budget savings are miniscule – $1.4 billion, according to the Congressional Budget Office, because so little of the money allocated to HAMP is projected to be spent in the future. [...]

The House Oversight Committee is holding its first hearing since Darrell Issa got the gavel today, and it’s on TARP and foreclosures. And that bifurcation is accurate – the Republicans on the panel, for the most part, are asking about TARP, and the Democrats are asking about foreclosures. Timothy Massad of the Treasury Department (filling [...]