NYT-
IT might seem remarkable that there’s more to say about our late Bailout Age. But there is more — a lot more.
Nearly four years after Washington began its huge rescues of banks with taxpayer dollars, an important player in this, one of the great financial dramas of all time, is offering a damning account of how the Bush and Obama administrations handled the whole episode.
He is Neil Barofsky. Remember him — the man whose job it was to police the $700 billion Troubled Asset Relief Program? And his new account, a book titled “Bailout” (Free Press), to be published on Tuesday, is a must-read.
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I’m going to buy his book as soon as it comes out in digital format. I think Neil is a true hero. Gretchen too.
The Treasury in lock step with Banks? Wow, imagine that. Some have assumed that the Treasury’s entire mode of operation is at the Banks behest. Admittedlly, that idea might be a bit too radical for the NYT. Still, Barofsky is urging justifiable rage, to break the grip of the megabanks.