"I don't think there's much doubt, even within the administration, that the (foreclosure assistance) programs over promised and underperformed — embarrassingly so," said Ken Harney, who writes a weekly syndicated real estate column.
For the assistance promised by the U.S. Government this is sadly true but the problem here is that the government only has so much control. They can try and implement programs but when the banks choose not to follow them there are no consequences. There is very minimal accountability required of the big banks and there lies the real problem, they can do whatever they want. It is why they fight so hard to keep regulation out. So although it is easy to jump on the political band wagon and takes sides as to what was and wasn't done--I think one needs to look at the big banks, their boards and CEO's who make decisions only in their best interest--they do not care about the American homeowner. And if by chance you are still banking with any of the big banks, for any reason, YOU are only assisting in the perpetuation of their ability to control.