Backstory. For those who have never heard of tulip mania.
Tulip mania - Wikipedia, the free encyclopedia
Political blurb.
More foreclosures could force down the price of homes and further hurt the already-ailing housing industry.
Gov't watchdogs: mortgage program is not working - Yahoo! Finance (http://finance.yahoo.com/news/Bailout-watchdog-calls-apf-1527849934.html?x=0 - broken link)
Headline:
Bailout watchdogs say Obama mortgage program is failing to help homeowners facing foreclosure.
It's tulip mania. I'm wishing I could go back in time and watch political pundits denounce the politicians of the time for not keeping tulips more expensive. It's a bubble. It's gotta pop. It's gonna hurt. That's the logic.
Unless you want to keep it magically inflated forever with tax payer dollars that could be used for something better than making the housing industry have a warm and fuzzy.
The program relies on voluntary cooperation from mortgage companies, Warren said. She said many of the mortgage debt collectors make more money when they foreclose than they do when helping homeowners.
So, you mean to tell me that businesses that wrote bad loans so they could package them up and sell them and make oodles of money are now not helping people as much as they possibly can so they can make even more oodles of money? SHOCKED I AM. That's just
inconceivable. 
And it's taking forever for the banks to foreclose and clean up the mess because they are overwhelmed by the number of bad loans/foreclosures, I see.
I bet they didn't see that coming. That's why they are so unprepared. After all, they've had
YEARS to get more people to handle this.
TULIPS, MAN> It's all tulips, all over again.
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