Saturday, July 28, 2012

‘Abysmal Failure’

That’s how the 2008 TARP bailout is described by Neal Barofsky, the former special inspector general (“SIGTARP”) who was responsible for investigating how the funds were spent. - The Other McCain

Did you know, for example, that the Treasury Department still owns 61% of the “too-big-to-fail” insurance giant AIG, and that bailout recipients still owe taxpayers more than $100 billion?

Those are a few of the unpleasant facts Barofsky details in his new book, ◼ Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street.

TARP Was Even Worse Than You Think: “An Abysmal Failure,” Barofsky Says - Aaron Task/Daily Ticker