Neil Barofsky Slams Dimon/Washington Still a cover up & his book Bailout Why Tarp failedSubmitted by Ian56 on Tue, 07/31/2012 - 19:20
Neil Barofsky was the former Special Inspector General of TARP, the $700 billion bailout program signed into law by George Bush and carried out by Barack Obama’s Treasury Department.
Speaking to Time magazine, for an article reviewing the book, Barofsky states that his motivation for writing it was to expose the corruption of the regulatory culture in Washington. For him, Geithner, who "has shown a remarkable deference to the interests of Wall Street, by protecting them at every juncture through the implementation of TARP and the regulatory reform process," is the poster boy for a corrupt administration.
1) Barofsky on Dimon facing the Senate Banking Inquiry
America may be numb to the ineptitude emanating from Washington but that does not mean we need to willingly accept it as simply the best we can get. Who understands that and hits hard on this front? Former Special Inspector General of the TARP, Neil Barofsky. In a “must see” interview this morning on Bloomberg, Barofsky drills Dimon and the sycophants masquerading as United States Senators.
Why should we care about the issues highlighted by Barofsky? Because the banks and our elected officials both have their hands in our pockets and we pay in spades for the incestuous relationship ongoing between Wall Street and Washington.
2) AIG bailout
Geithner May Be CRIMINALLY Charged?
The TARP watchdog has also criticized Treasury Secretary Timothy F. Geithner in reports and in congressional testimony for his handling of the process by which insurance giant American International Group Inc. was saved from insolvency in 2008, when Geithner was head of the Federal Reserve Bank of New York.
The secrecy that enveloped the deal was unwarranted, Barofsky says, adding that his probe of an alleged New York Fed coverup in the AIG case could result in criminal or civil charges.
3)NEIL BAROFSKY: The Treasury Betrayed Its Promise To American Homeowners
Everyone's talking about NYU Professor Neil Barofksy's new book, 'Bailout: An Inside Account of How Washington Abandoned Main Street to Save Wall Street.'
4) Neil Barofsky's 'Bailout': Why TARP Failed
Neil Barofsky’s new book about his job overseeing the $700 billion bailout of banks pulls no punches. He talks to Nancy Hass about his battles with Tim Geithner, and what went wrong.
Neil Barofsky has spent much of the past four years in a state of incredulous outrage, and today is no exception. The mention of the LIBOR scandal and JP Morgan’s recent calamitous $6 billion trading loss sets him off: “Those situations, once again, point to exactly what’s wrong. I reaffirms that we’ve fixed nothing. Nothing.”