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Yes, but there are mortgage relief and restructuring programs.  It can be argued they don't go far enough, but they're there and they're helping.

Maybe we can eventually make language a complete impediment to understanding. -Hobbes
by Izzy (izzy at eurotrib dot com) on Sun Jan 24th, 2010 at 06:22:13 PM EST
[ Parent ]
is argued that not only the Hamp did not go far enough, but that it is a big failure.

I don't think there is a credible independent person in the US who would argue that the HAMP is anything but a big failure, all the serious finance and econ blogs (Krugman, Calculated Risk, Delong, et c.) agree on this but if you've got a cite to the contrary I'd love to see it.

Fai de bèn a Bertrand, te lou rendra en cagant

by redstar on Mon Jan 25th, 2010 at 02:50:24 AM EST
[ Parent ]
I'm not arguing the opposite, I'm just saying it's not a failure to the people whose asses are currently being saved by it.  And there are those people -- they're not nothing, they count.  So it's not a big failure to them.  I'm hoping the program gets expanded, but it's difficult to argue for expansion of a 'big failure.'  That's where I'm coming from in this discussion.  I don't have a credible independent mucky muck economist cite, sorry.  Just piping up for the little people happy not to lose their homes.

Maybe we can eventually make language a complete impediment to understanding. -Hobbes
by Izzy (izzy at eurotrib dot com) on Mon Jan 25th, 2010 at 03:18:38 AM EST
[ Parent ]
I'm hoping the program gets expanded, but it's difficult to argue for expansion of a 'big failure.'  That's where I'm coming from in this discussion.

Krugman has been warning since before Obama was elected that his stimulus plan was too small and that its likely failure would be interpreted as a failure of the concept of stimulus, not a failure to make it the right size... And here we are, a year after inauguration.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Mon Jan 25th, 2010 at 05:08:53 AM EST
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