Government Housing Program Shows Little Benefit at High Cost

Loans backed by the Federal Housing Administration, the Government National Mortgage Association, the Veterans administration, Fannie Mae and Freddie Mac have increased the government’s debt by $512.4 billion. TARP inspector general, Neil Barofsky said  "Treasury’s refusal to provide meaningful goals for this important program is a fundamental failure of transparency and accountability that makes it far more difficult for the American people and their representatives in Congress to assess whether the program’s benefits are worth its very substantial cost."