March 15 (Bloomberg Law) — The $25 billion mortgage settlement between lenders and state attorneys general won’t help nearly as many people as its touted to, Neil Barofsky, the former Special US Treasury Department Inspector General for the Troubled Asset Relief Program (TARP), tells Bloomberg Law’s Lee Pacchia. He’s joined by Matthew Stoller, a fellow at the Roosevelt Insitute, who says the government and banks delayed filing details of the settlement to give investors less time to challenge the deal in court.
I saw the video where the very articulate and straight talking Neil Barofsky testified before the Senate Banking Committee before he went back to work in the private sector. They thanked him for his time but did not listen to a damn thing he said. He told them exactly what the problem is and pretty much how it could be fixed. No one cared. To heed Neil would be to upset the apple cart and Tim Geithner along with it!
I saw the video where the very articulate and straight talking Neil Barofsky testified before the Senate Banking Committee before he went back to work in the private sector. They thanked him for his time but did not listen to a damn thing he said. He told them exactly what the problem is and pretty much how it could be fixed. No one cared. To heed Neil would be to upset the apple cart and Tim Geithner along with it!