What a Surprise

Posted by mcm0704 on July 21, 2010 |

Actually, not such a surprise. Most of us already realize that common sense does not seem all that common in Washington.

That came to mind today when I read the following news item:

“Government watchdogs are telling a Senate panel that the Obama administration’s multibillion effort to help at-risk homeowners avoid foreclosure is not working and could put the economic recovery at risk. Special inspector general for the financial bailouts Neil Barofsky said Wednesday that the program has not “put an appreciable dent in foreclosure filings,” during a hearing on the $700 billion bank bailout before the Senate Finance Committee. He also said the Treasury Department has ignored earlier demands that it set clearer goals for the program.”

I remember when this bank bailout first occurred, I  asked why the money had not been given directly to the homeowners who could then have paid their mortgages? To me it was a win-win situation. The banks would still have received  an influx of money to help their financial situations and homes could have been saved.

When I mentioned my idea to my husband, pointing out the simple logic, I also wondered why some one in government who was outlining the plans had not thought of it. My husband laughed and reminded me that most of the folks in Washington don’t seem to operate on simple logic. 

What do you think? I my logic just too simple? After all, I am a writer, not an economist.

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