Neil Barofsky, former Special Inspector overseeing TARP and author of BAILOUT: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street, talks about changes at the SEC and what it means for financial reform.
Neil Barofsky was appointed to be the Special Inspector General in charge of Troubled Asset Relief Program (TARP), and he describes the ways of Washington and the mishandling of the $700 billion TARP bailout fund. In Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street, he reveals the ways he thinks government officials bent over backward to serve the interests of Wall Street firms at the expense of the broader public—and at the expense of effective financial reform.
Neil Barofsky, the man put in charge of the Troubled Asset Relief Program (TARP), thought the Bush and Obama Administrations wanted a tough regulator. As Barofsky tells it, he couldn't have been more wrong.