Friday, March 26, 2010

Andrew Dismore In Another Sleaze Scandal Shocker

Obama administration a year ago launched a $75 billion program designed to prevent foreclosures by providing financial incentives to lenders and servicers who modified mortgages to keep them affordable. The program, the White House said, would reach between 3 and 4 million struggling homeowners.
Andrew Dismore
Labour Friends of Israel crony Andrew Dismore is mired in yet another sleaze allegation. Dismore is fighting for his political life in his marginal constituency of Hendon. Having already faced allegations about his expenses in 2009, Dismore is now accused of breaking House of Commons rules more than 90 times! His free trips to Cyprus meant he should have declared his interests when talking about the subject of Cyprus in the House of Commons. He has tabled more than 200 questions regarding Cyprus since the election in 2005. Alarmingly Dismore is a member of the Commons Standards and Privileges Committee. His position is clearly untenable until a full investigation has been carried out. In the meantime the voters of Hendon will be made fully aware of Mr Dismore’s conduct.
Andrew Dismore
The watchdog overseeing the Wall Street bailout issued a report this week revealing that the program — dubbed the Home Affordable Modification Program (HAMP) – is falling far short of its target. Instead of 3 to 4 million, the HAMP is on track to help between 1.5 and 2 million homeowners, according to the report conducted by the office of Neil Barofsky, special inspector general for the Troubled Asset Relief Program.

Housing advocates have a pretty good idea why the HAMP hasn’t been as effective as it might have been: It relies on the voluntary efforts of mortgage servicers, who often find it more profitable to foreclose on homes than make the terms more affordable to homeowners. Advocates are pushing Congress and the White House to adopt a program that would force companies to reduce principal balances. So far, though, that plan has fallen on deaf ears on Capitol Hill.

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