The Special Inspector General for Tarp Issues a Wakeup Call … Lambasts the Government and the Banks
July 27th, 2012
See Also: (USAToday) – Weill, ex-Citigroup CEO, says big banks need to be broken up – Read More Here
Also: (Forbest) – Rethinking Capitalism: Sandy Weill Says Bring Back Glass-Steagall – Read More Here
(WashingtonsBlog) – The government’s special inspector general in charge of oversight of the Troubled Asset Relief Program (the “TARP” bank bailouts) – Neil M. Barofsky – wrote a stunning editorial for Bloomberg yesterday, concluding:
Americans should lose faith in their government. They should deplore the captured politicians and regulators who distributed tax dollars to the banks without insisting that they be accountable. The American people should be revolted by a financial system that rewards failure and protects those who drove it to the point of collapse and will undoubtedly do so again.
Only with this appropriate and justified rage can we hope for the type of reform that will one day break our system free from the corrupting grasp of the megabanks.
See this for background.
This is not the statement of a raving blogger (although some of the best reporters write blogs) or a conspiracy theorist living in his mom’s basement (even though some conspiracies are real).
This is the former government official who oversaw the bailouts and interacted with all of the top players.
Source: Washingtons Blog
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