PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Tuesday, August 21, 2012

Obama Allies Criticize President’s Efforts On Foreclosure

(AP)

Are President Obama’s decisions on the foreclosure crisis hurting his re-election chances?

The administration has tackled the foreclosure crisis with what New York Times reporter Binyamin Appelbaum calls a limited aid program:

He tried to finesse the cleanup of the housing crash, rejecting unpopular proposals for a broad bailout of homeowners facing foreclosure in favor of a limited aid program — and a bet that a recovering economy would take care of the rest.

During his first two years in office, Mr. Obama and his advisers repeatedly affirmed this carefully calibrated strategy, leaving unspent hundreds of billions of dollars that Congress had allocated to buy mortgage loans, even as millions of people lost their homes and the economic recovery stalled somewhere between crisis and prosperity.

Political allies of the President are saying that President Obama’s decision not to do more to help struggling homeowners may have been the administration’s most serious mistake.

California Democratic Representative Zoe Lofgren told the New York Times that the administration was simply “not aggressive enough .. and as a consequence they did not interrupt the catastrophic spiral downward in our economy.”

Administration officials say they did what was possible, and that it would have been difficult to do more given how the mortgage and banking industry is set up. And they point out that there was a tremendous amount of political opposition to more aggressive measures.

Guest:

  • Binyamin Appelbaum, Washington correspondent for the New York Times

Please follow our community rules when engaging in comment discussion on this site.
Spotlight

From controversial new textbooks to a Maverick family reunion, here are stories from Jeremy Hobson's week in Houston and San Antonio.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

July 6 31 Comments

Andrew Bacevich On Iraq, ISIS

Is the recent surge of ISIS tied to decisions made by Barack Obama?

July 6 5 Comments

The Rise Of The MP3 And The Fall Of The CD

Stephen Witt discusses his book "How Music Got Free: The End of an Industry, The Turn of the Century, and the Patient Zero of Privacy."

July 3 Comment

Kids Books Feature Famous Figures As Children

Brad Meltzer is known for his political thrillers, but he also writes kids books about real-life people like Rosa Parks and Amelia Earhart.

July 3 Comment

Not Your Typical Summer Reading List

NPR Books editor Petra Mayer and Cleveland poet and bookstore owner R. A. Washington share their picks.