Neil Barofsky, the overseer appointed to keep an eye on TARP and related programs, has come down like a load of subprime mortgages on Obama’s foreclosure-prevention program, calling the administration’s measurements of the project’s effectiveness ”essentially meaningless.” The Hill reports:

Barofsky’s report said it is possible the program only benefits half of the three or four million homeowners originally envisioned. Among other data, the program measures trial modifications, a metric Barofsky faulted for being, “essentially meaningless.” The number of permanent modifications could wind up being a small share of the millions of foreclosures filed in this year and during the past two years.

Billions of dollars ($75 billion here) spent on a program that ended up providing a marginal benefit to a very small number of the people it was intended to help: Put Barofsky in charge of Obamacare oversight, I say. He probably won’t even have to do much rewriting.