Tuesday, April 21, 2009

Neil Barofsky: Banks Scamming TARP

Maybe we should just let the banking system go down. To think that bankers would still find ways to scam is unconscionable. Neil Barofsky, the Obama appointed overseer of the TARP, released a report finding lots of room for abuse:
The top cop tracking the government's $700 billion bailout program said Tuesday that he has opened 20 criminal investigations and six audits into whether tax dollars are being pilfered or wasted.

Neil Barofsky, the special inspector general overseeing the Troubled Asset Relief Program, released a 250-page report detailing a long list of concerns about government efforts to prop up hundreds of banks, Wall Street firms and auto companies.CNN
Meanwhile, Timothy Geithner is defending TARP:
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