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This article from Glen Ford is re-posted from Black Agenda Report.
The Obama administration’s indifference to the plight of foreclosed homeowners, and total subservience to the banks, is once again on public display. According to a report by the Special Inspector General of the TARP program, the administration has spent only a tiny fraction of the money it was allocated to help those most negatively impacted by the housing collapse. In two years, only a little over 30,000 households have been helped, at a cost of $217 million. That’s only 3 percent of the $7.6 billion TARP is authorized to spend through its Hardest Hit Fund.
No wonder most people think TARP – the Troubled Asset Relief Fund – is only concerned with bailing out the banks. The Obama administration has treated it that way, even though Congress intended a portion of that money to help homeowners recover from…
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