Bailout by Neil Barofsky
An insider of both the Bush and Obama administrations offers an irrefutable indictment of the mishandling of the $700 billion Troubled Asset Relief Program bailouts and the extreme degree to which our government officials--from both parties--served the interests of Wall Street at the expense of the public. From his first day on the job as the special inspector general in charge of overseeing the distribution of the bailout money, Neil Barofsky found that the officials at the Treasury Department in charge of the bailouts were in thrall to the interests of the big banks. In vivid behind-the-scenes detail he reveals how they steadfastly failed to hold the banks accountable even as they disregarded major job losses caused by the auto bailouts and refused to help struggling homeowners. He discloses how the team at the Treasury under Secretary Timothy Geithner worked with Wall Street executives to design programs that would have funneled vast amounts of taxpayer money to their firms and allowed them to game the markets and make huge profits with almost no risk and no accountability. Providing stark details about how--through a combination of sheer incompetence and a profound disregard of the plight of homeowners--the interests of the broader public were betrayed, he recounts how an increasingly aggressive war was waged by the Treasury against his efforts to raise the alarm about the failures. Bailout is a riveting account of his plunge into the political meat grinder of Washington, as well as a vital revelation of just how captive to Wall Street our political system is and why the too-big-to-fail banks have only become bigger and more dangerous in the wake of the crisis.
Barofsky, Neil: - Neil Barofsky served as the Special Inspector General in charge of overseeing TARP from December 2008 until March 2011. For eight years prior, he was a federal prosecutor in the US Attorney's Office for the Southern District of New York, during which time he headed the Mortgage Fraud Group. Currently, Neil Barofsky is a senior fellow at New York University School of Law. An alum of the University of Pennsylvania and the New York University School of Law, this is his first book.
| SKU | Unavailable |
| ISBN 13 | 9781451684957 |
| ISBN 10 | 1451684959 |
| Title | Bailout |
| Author | Neil Barofsky |
| Condition | Unavailable |
| Binding Type | Paperback |
| Publisher | Simon & Schuster |
| Year published | 2013-02-05 |
| Number of pages | 304 |
| Prizes | Commended for Axiom Business Book Awards (Economics) 2013 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |