This story appeared in Bank Digest.
Following the release of a report from Special Inspector General for the Troubled Asset Relief Program Neil Barofsky, Representatives Jim Jordan, R-Ohio, Darrell Issa, R-Calif., and Patrick T. McHenry, R-N.C., announced the introduction of H.R. 430, a bill to repeal the Home Affordable Modification Program (HAMP). Jordan noted that “HAMP is a colossal failure” and that “In many cases, it has hurt the very people it promised to help. It’s one more example of why government interference in the private sector doesn’t work and that’s why it should be repealed.”