This filed under the heading of “I’ll believe it when I see it”. The Obama administration plans to announce a campaign on Monday to publicly name banks who are not doing enough to lower payments for troubled homeowners.
“Washington would try to shame the lenders by publicly naming institutions that fail to move quickly enough to lower mortgage payments permanently. The Treasury Department also will not pay the lenders promised cash incentives until the payment cuts become permanent, he added. “They’re not getting a penny from the federal government until they move forward,”
Yep, sure. And that’ll really do anything? Not. As far as I know, pigs haven’t learned to fly. Mr. Obama, you’re in way over your head dude.