Remind us again, Mr President, about all that good old change you’re bringing to the way the White House does business… Because the Washington Post reports something quite different.
In recent days, amid reports that major lenders have used improper procedures and fraudulent paperwork to seize properties, some Obama administration officials have acknowledged they had been aware of flaws in how the mortgage industry pursues foreclosures. But the officials said they could take only limited action to address the danger. In part, this was because they wanted lenders’ help carrying out federal programs to modify mortgages that had fallen into default or were poised to do so.
In other words the Government knew that the banks were intentionally manipulating foreclosures, but because the White House wanted the banks help, didn’t do anything about it.
Thanks, Mr President. All that change feels great. I feel all warm and fuzzy inside knowing you did everything you could to help big business while allowing average Americans to pay the price. Nicely done.