Joe Nocera’s article in Saturday’s New York Times demonstrates the futility of the Obama Mortgage Modification program, Home Affordable Modification Plan. It simply has no teeth. It dangles a pitiful carrot at the lenders - a measly $1000 per loan modification - and no stick if the banks don’t take it. Without court ordered modifications of mortgage in chapter 13 - the “dreaded cram-down” that the banks spent another $50,000,000 to defeat in Congress - the banks have no incentive to modify