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It must have seemed like a great plan to the president. Mortgage modifications certainly seem like the best choice to avert more foreclosures. At least to anyone who doesn’t understand or appreciate free market capitalism. Then again we’ve never actually had any of that.

First the feds would pour billions of taxpayer dollars into a “toxic asset” recovery plan which would be distributed to the biggest banks. Only those banks who are most friendly with the ruling party, though. Then when that didn’t do the trick the feds, having now nationalized these big banks, would “suggest” they modify the home mortgages on a few million homes. After all when you have the president (Obama), Nancy Pelosi, Harry Reid, Barney Frank and Chris Dodd all on a rocket tour through the destruction of the American economy who could say no?

The banks did not. At least the ones who were walking around with their lips around the teat of the mother of all bailouts. It appears Robin Hood was, after all, a modern American socialist. Only he stole from the rich and gave to the poor people. This version is different wherein the Robin hoodlums steal from the commoner and their children and give to the rich … or at least the mega rich. In fact evidence shows if you are not large enough to affect an entire national election you aren’t due for any of the people’s gold.

In the end nearly one-half of the home owners who applied and who were/are underwater in their homes, not able to keep up with their “toxic mortgage” payments for any number of reasons or simply looking for some of that very personalized socialism have fallen out of the all but forced Home Affordable Modification Program (HAMP). All but forced upon the banks that is. After all, the banks owe the president and the four horsemen of the recession their sworn allegiance. Instead of letting the banks fail, as open market capitalism requires, the executives of the behemoths still have their positions and have pockets lined with tax payer sacrifice ripped from the altar of belief in an increasingly communistic way of life.

More a sign of the times than actual necessity for the preservation of America we now are burdened with poorly written regulation mixed with a recipe of lack of foresight, failed introspect, atrocious levels of community involvement (nil), and “how can we make this work for re-election” publicity. The Summer of Recovery hasn’t even so much as sparked before it fizzled. It’s a dud bomb that only poisoned the waters of the free market with yet another failure in the HAMP program. I can’t wait to see how they spend our children’s money next. Surely there must be yet more ways to fail the American people.

Who’s fault is it? Why Chris Dodd and Barney Frank of course. The same people entrusted to make America safe from the horrible bankers for years and years. The same horrible bankers who followed their regulatory changes to open the mortgage market to the “underserved” citizens of America under the Clinton administration. These are the same underserved people who continually get the very short end of the stick and still find themselves uninformed enough to vote for the same kings and queens election after election. I suppose the sheep doesn’t really know he’s a sheep. He just wonders why every time the lord of the barn invites him in he leaves cold and naked having his shearing blamed on the shearer, not the lord of the barn. But there’s plenty of grass to eat and it’s so green …

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