Criticism of the Obama Administration's mortgage bailout, the Home Affordable Modification Program, is reaching a fever pitch, and I know this because, among other things, the Administration itself appears to be mounting a defense.
Recently, reporters who cover housing were called to the Treasury Department for a "background briefing" by Administration officials, who tried to focus attention on the many, varied Administration efforts to stabilize housing; the message was...it's not all about our modification program.
The thing is they're sitting on $70+ billion dolllars...they could do something with it.