Housing

The Obama administration's Home Affordable Modification Program (known as "HAMP" to lenders and services, and MHA, or "Making Home Affordable" to the general public) is "failing." I only learned this because I looked at the Associated Press's feeds on Christmas evening and saw this headline -- "No consequences for lying borrowers." In an item time-stamped December 25, AP national business…

On Thursday, the Treasury Department issued a press release, called "Update on Status of Support for Housing Programs." Its fourth paragraph reads as follows: At the time the Federal Housing Finance Agency (FHFA) placed Fannie Mae and Freddie Mac into conservatorship in September 2008, Treasury established Preferred Stock Purchase Agreements (PSPAs) to ensure that each firm maintained a positive…

If there's a Ground Zero for America's foreclosure mess outside of much of California and metro Las Vegas, it's probably Cleveland, the Northeast Ohio city known in most of the rest of the state as the Mistake on the Lake. The Cleveland Plain Dealer's Mark Gillespie got out from behind his desk, committed some good old-fashioned journalism, and went looking for the mistakes that exacerbated the…

In a Washington Post opinion piece published on December 6, longtime expansionary entitlement program apologists Peter Edelman and Barbara Ehrenreich ripped into the 1996 welfare reform law and its alleged effect on the poor during the struggling economy of the past two years. In the course of their rant, Edelman and Ehrenreich told readers something that the rest of the press has largely…

The seemingly creepy fixation some MSNBC on-air personalities have with Minnesota Republican Rep. Michele Bachmann just continues to persist on the cable network. The latest installment involves MSNBC's "Ed Show" host Ed Schultz relying on a left-wing publication, The Minnesota Independent, which found a high rate of foreclosures relative in Bachmann's district relative to the rest of the state…

It's a development that I wouldn't wish on anybody, but one that the City of New London, Connecticut largely brought upon itself by pursuing and winning the Kelo v. New London case at the Supreme Court in June 2005. Some "win." In what Ed Morrissey at Hot Air calls "a fitting coda to a chapter of governmental abuse," pharmaceutical manufacturer Pfizer is leaving the global research and…

It isn't often that one can see two decades of history re-written in under ten minutes.  But such was the occasion on this morning's episode of Morning Joe. Max Blumenthal, author of "Republican Gomorrah: Inside the Movement that Shattered the Party," spent his time on the show demonstrating the combined power of cognitive dissonance, wanton ignorance, and a willingness to re-write historical…

No, that's not a made-up headline. The foreclosed and/or evicted homeowners that have played such a role in the current economic meltdown - are they irresponsible borrowers that lived beyond their means or are victims that got swindled? Michael Moore is clear on where he thinks they fall. Moore matched up with Fox News and conservative talk radio host Sean Hannity on Hannity's Oct. 6 program…

Has it really come to this? Is MSNBC so in the tank for the Democratic Party that it takes far-left documentary filmmaker Michael Moore to bring up malfeasance by a leading Democrat? Moore appeared on MSNBC's Sept. 29 "Hardball" to promote his new film "Capitalism: A Love Story." With exception of "The Ed Show" fill-in host Lawrence O'Donnell noting the Senate Ethics Committee had cleared Sen.…

In a great NewsBusters post early this morning, Rusty Weiss wondered how much local media coverage there has been of ACORN's suspension of services, and focused on potential vote fraud in Albany and Troy, New York. Here's a question local reporters looking for an angle should be asking, even in the somewhat unlikely event they can't find anything corrupt or criminal at the ACORN office in their…

If you haven't been under a rock the last few weeks, or relying on the mainstream media as your sole source of news, you are likely aware of some of the questionable circumstances surrounding the organization Association of Community Organizations for Reform Now (ACORN). A pair of intrepid investigative reporters, James O'Keefe and Hannah Giles, with the help of Andrew Breitbart, made it…

Early this morning (at NewsBusters; at BizzyBlog), I posted on the Associated Press's treatment of the firing of two employees at ACORN's Baltimore office. These employees were successfully stung by undercover filmmaker James O'Keefe, who posed as a pimp (one who said he has plans to use the money from his "enterprise" to run for Congress), and Hannah Giles, who posed as a prostitute. In a pair…