Recall when we said HAMP is a scam ? A new GAO report confirms that conclusion (well not so dramatic but the statistics are the same!)When Treasury announced the program in March 2009, it estimated that HAMP could help 3 to 4 million borrowers. … Perhaps it shouldn’t be when you consider Fannie and Freddie have a good chance of costing taxpayers more than the bailouts of the banks (-$7 b.), AIG ($36 b.), and GM and Chrysler ($34 b.) put together according to this …

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The Palgrave Econolog – story details