Word: gao
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Dates: during 2000-2009
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...government's original goal was to get more-affordable monthly payments to 3 million to 4 million borrowers. As of mid-July, modification offers had gone out to 350,000 borrowers, but only 180,000 trial mods were under way, according to a report from the Government Accountability Office (GAO). (See the top 10 company bankruptcies...
...there's more to the holdup than a bunch of big companies dragging their feet. As the GAO report points out, Treasury itself has taken its time - perhaps legitimately - in rolling out details of the program. Only in late April did servicers get guidance on how to handle second liens. In May came information about dealing with geographic areas where home prices continue to decline quickly. Other details, like the process for modifying loans insured by the Federal Housing Administration, continue to emerge. It seems that writing the fine print for a program meant to spend up to $50 billion...
...Sept. 11, 2001) and domestic assailants like Timothy McVeigh, who bombed Oklahoma City's Alfred P. Murrah Federal Building in 1995. But security at the government buildings guarded by the Federal Protective Service (FPS) is almost comically inept, according to a disturbing report from the Government Accountability Office (GAO). Over the past year, undercover investigators visited 10 supposedly high-security buildings in four cities and at each location were allowed inside with bombmaking ingredients. Investigators then walked into restrooms, assembled the devices and freely strolled around with explosives in their briefcases. The report found other instances of neglect - such...
Highlight Reel: 1. The bombs: Amazingly, GAO investigators were able to smuggle in ingredients for low-cost improvised explosive devices and assemble them inside the government buildings with no trouble. Explosives were taken into facilities that included field offices for U.S Congressmen, as well as the Department of Homeland Security, the Department of Justice and other key agencies...
...Lowdown: Senator Joseph Lieberman called the GAO's findings "about the broadest indictment of an agency of the Federal Government that I've heard," and it's hard to disagree. The director of the FPS, which has a budget of about $1 billion, said a lack of money and manpower has hampered the organization and vowed to address the problems. It seems safe to guess that some improvement is on the way - after all, things can't get much worse. But along with weaknesses documented in the Transportation Security Administration, the report supports the notion that even in a post...