The $300 billion housing bailout (passed by Congress this past summer) to supposedly help hundreds of thousands (+/-400,000) of homeowners avoid foreclosure has failed miserably.
Only 312 homeowners have filled out the application paperwork.
Of those 312 who applied - guess the number who have been able to forestall foreclosure and stay in their homes - ZERO.
Sad, but true, and I am not surprised in the least. This is our own federal government of the United States of America. It's time we admit that it is fundamentally impossible for them to do anything effectively, efficiently, or that actually results in the desired/planned/needed outcome.
It just ain't gonna happen.
Now here's my question...where's our $300 billion?
Here's the link to the video on NBC.
By the way, $300,000,000,000 divided by 400,000 equals $750,000 per homeowner. Something's wrong with our government's math.