Fantastic job and much appreciated thanks to Chris Hayes and the Rachel Maddow Show team for covering the failure of the HAMP program.
He opens with MSNBC news clips from 2007 talking about the foreclosure crisis that was coming, and notes how even though the crisis is far worse in 2010 the mainstream media coverage has more or less disappeared. I like his metaphors of the HAMP waterfall of interest adjustments, term modification and principal reduction for underwater people as the equivalent of scuba gear, a snorkel, and actually pulling someone up from being underwater.
He is also right that this is at the administration’s feet. There’s no 60th vote with HAMP – the money was appropriated and almost none of it has been spent and the money that has been spent has been in the most bank friendly way possible.
And he ends with noting that if the 25 year-old community organizer Obama were around to see HAMP program, “I think he’d be disgusted.”
If you missed it before, I also recently got the chance to discuss the financial reform bill with Chris Hayes for The Nation’s Breakdown podcast here. If you aren’t subscribing to The Breakdown, I highly recommend it.