What Obama said was we are going to ALLOW lenders to work with borrowers? HELLO, how about we are going to INSIST that banks work with borrowers. Everyone keeps saying that the program doesn't work. The PROGRAM, JUST LIKE AA, WORKS IF YOU WORK IT. The banks have gotten away with tremendous crimes. They need to be held ACCOUNTABLE, the executives and CEOs need to go to prison. Appoint new executives and if they don't follow through, send them to prison. A poor man who robs a 7/11 of $100, will go to prison, but a CEO who robs hundreds of thousands of unemployed and otherwise destitute people of the money they need to find suitable housing, wastes months sometimes years of the poor man's time, and emotionally pushes some to suicide (there are many documented cases,) gets a bonus.
The Executives of Bank of America and the other big banks need to face criminal charges, what they have perpetrated was calculated fraud.