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A Year Later, Barofsky Sees a 'Far More Dangerous' Financial Situation

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posted on May, 21 2010 @ 06:08 PM
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Neil Barofsky is the man who tracks the historic bailout known as the Troubled Asset Relief Program or TARP. Named in December, the 39-year-old special inspector general monitors a dozen separate bailout-related programs, which now account for nearly $3 trillion in financial commitments. Barofsky has subpoena power and, as a former federal prosecutor who successfully pursued white-collar crime, he has wasted no time in demanding details from institutions rescued by TARP. From a floor of office on L Street, the man known as SIGTARP has launched about two dozen investigations. In an audit released in July, Barofsky made clear that he was intent on demanding transparency from all quarters - including the U.S. Treasury. His next audit is due in October. In a half-hour interview with the Investigative Fund, Barofsky lays out the breadth of his work and is blunt in his assessment about whether the financial system, now with fewer and bigger banks, is yet safe. "I think we may be in a far more dangerous place today than we were a year ago," he said.




posted on May, 21 2010 @ 06:13 PM
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Solid quote at the end to spell things out:



Heads I win, Tails the tax-payers pay for it.



posted on May, 21 2010 @ 07:06 PM
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reply to post by Americanist
 


We sure are, they are pushing the problem to the future. The problem is that the future is here and they don't realize it, they are just trying to do the same thing they have been doing for decades and it's now time to fess up.



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