Watchdogs slam Obama housing programs

MSNBC:  WASHINGTON — Obama administration housing rescue programs have been ineffective at preventing a rise in home foreclosures even as the government's support for the mortgage market grew by nearly $700 billion in the past year, bailout watchdogs said on Wednesday.

Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program, heaped more criticism on Treasury for its failure to adopt more realistic goals for the number of people who can benefit from its program to modify mortgages to slash monthly payments.           Read Article

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