Too Big To Fail...Who's Going To Jail?

From MSNBC (http://www.msnbc.msn.com/id/33405209/ns/business-stocks_and_economy/)
A government watchdog said the $700 billion bailout for the financial industry played a major role in rescuing the economy over the last year but also engendered anger and distrust among Americans because of secrecy and confusion about the way the program was handled.

The mixed and blunt assessment by Neil Barofsky, the special inspector general in charge of oversight for the bailout fund, appears in a quarterly report scheduled for release Wednesday. Barofsky said the Troubled Asset Relief Program has come at great cost to taxpayers, to the integrity of the financial system and to the public's perception of the federal government.

"Despite the aspects of TARP that could reasonably be viewed as a substantial success," he wrote, "Treasury's actions in this regard have contributed to damage the credibility of the program and of the government itself, and the anger, cynicism and distrust created must be chalked up as one of the substantial, albeit unnecessary, costs of TARP."

Category:

News & Politics

Tags:

• TARP
• Neil Barofsky
• dylan ratigan
• morning meeting
• too big to fail

[eyewitness043]

Barofsky & Warren on SIGTARP was more wasted money. How much did that cost and what's the ROI on that? Austerity & Inflation, that's what!

Techo-Bureaucrats living high on the Hog in DC, Maryland, and VA love this phony "not enough regulation crap" / "too much regulation" debate.

Total false Dilemma.

No offense, but clearly, NOT ENOUGH WHITE MEN GOING TO JAIL is the problem.

That's NOT a regulatory issue - its an Enforcement issue like its ALWAYS BEEN WITH.........wait for it.......THOSE PE

[411American]

DON'T ASK AND DON'T TELL

[drumsmetalheavy]

What a complete mess, these too big to fail banks get bailed out by the american tax payers and no one is held accountable and no reforms are being made. What's to prevent this from happening again. I don't believe this!!!