HAMP not hampering the bad guys

The Home Affordable Modification Program (HAMP) is another use of our tax money ($21 billion of it), this time to attempt to get lenders to modify mortgages so they don't go into foreclosure. The problem, according to the Center for Public Integrity, is that our money is going to the people who had a large share in creating the current situation.

The Center asserts that "of the 25 top participants in the program, at least 21 were heavily involved in the subprime lending industry. Most specialized in servicing subprime loans, but several both serviced and originated the loans.

Among those on the list:

• At least two firms that earlier settled charges of illegal collection practices brought by federal regulators; another was placed under federal supervision before voluntarily surrendering its bank charter;

• A subprime subsidiary of top-bailout recipient American International Group Inc. (AIG);

• Two former subsidiaries of Merrill Lynch & Co. and one former subsidiary of Lehman Brothers, investment banks that helped underwrite the subprime boom, and;

• A subsidiary of the now-sold, former No. 1 subprime lender in the nation, Countrywide Financial Corp."

Change you can believe in??