ProPublica: Bailout for Breakfast

Bailout

Bailout for Breakfast

by Paul Kiel, ProPublica - April 16, 2009 8:41 am EDT

Good morning! The administration’s $50 billion mortgage modification program is out of the gate, and six major mortgage servicers have signed up to win billions in incentives. Four of the six participants have already gotten bailout money: JPMorgan Chase, Wells Fargo, Citigroup and GMAC. Under the program, they’ll get payments from the government for every modification that meets certain guidelines.

Other links this morning:

• Lending by Bailout Recipients Falls Again (WaPo)
• February Monthly Bank Lending Survey (Treasury)
• Bank Test Results May Strain Limits of Bailout Funding (WaPo)
• Foreclosure Filings Climbed in March (WaPo)