Examples of Government Blunders in the REO world...not exactly Einsteins at the top.

Folks, I have seen a lot of wild things in the REO business over the last few years (HAFA, HAMP, etc.) but this one really takes the cake. The government even apparently used TARP funds, to the tune of some 14 Billion dollars, to assist in providing special refinancing options for home owners who are "upside down" in their mortgages, by encouraging lenders to write down loans. Now for me, it raises some interesting questions: [...]