Neil Barofsky on Tarp's 'Waste, Fraud and Abuse'

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In bailing out the financial sector, government officials pandered to big banks, dismissed warnings about taxpayer ripped-offs and misled the public about its intentions. So says the former Special Inspector General for the Troubled Asset Relief Program.

 

 

 

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Not sure about the "...misleading the public about what TARP was intended to do" as I've seen / heard many statements stating that the Government did not want the US financial system to collapse. And that even some of heads were even quoted as stating that they didn't need the funds but were made to accept to camouflage the state of the ones truly failing. But what I find interesting is the pushback Mr. Borosfky describes from the banks. Seems as though that "pushback", resistance was cultural as our efforts for transparency and rapid action on the housing programs targeting the defaulted portfolio received so much of the same...not so much in theory but in execution ....and here we are today...not at the 3-4 million... stage... as of yet...NSP $$$ undistributed....!
Posted by Ingrid Beckles | Thursday, September 20 2012 at 2:59PM ET
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