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000454512 010__ $$a  2012023126
000454512 019__ $$a800922344$$a819424990
000454512 020__ $$a9781451684933 (alk. paper)
000454512 020__ $$a1451684932 (alk. paper)
000454512 035__ $$a(OCoLC)ocn793575355
000454512 035__ $$a454512
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000454512 05000 $$aHG181$$b.B32 2012
000454512 08200 $$a338.973/02$$223
000454512 1001_ $$aBarofsky, Neil M.
000454512 24510 $$aBailout :$$ban inside account of how Washington abandoned Main Street while rescuing Wall Street /$$cNeil Barofsky.
000454512 250__ $$a1st Free Press hardcover ed.
000454512 260__ $$aNew York :$$bFree Press,$$c2012.
000454512 300__ $$axvi, 270 p. ;$$c24 cm.
000454512 504__ $$aIncludes bibliographical references (p. 237-257) and index.
000454512 5050_ $$aFraud 101 -- Hank wants to make it work -- The lapdog, the watchdog, and the junkyard dog -- I won't lie for you -- Drinking the Wall Street kool-aid -- The worst thing that happens, we go back home -- By Wall Street for Wall Street -- Foaming the runway -- The audacity of math -- The essential $7700 kitchen assistant -- Treasury's backseat driver -- Too big to succeed.
000454512 520__ $$aIn this account of his stranger-than-fiction baptism into the corrupted ways of Washington, Neil Barofsky offers an irrefutable indictment, from an insider of the Bush and Obama administrations, of the mishandling of the $700 billion TARP bailout fund. In behind-the-scenes detail, he reveals proof of the extreme degree to which our 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. During the height of the financial crisis in 2008, Barofsky gave up his job as a prosecutor in the U.S. Attorney's office in New York City, where he had convicted drug kingpins, Wall Street executives, and perpetrators of mortgage fraud, to become the special inspector general in charge of oversight of the spending of the bailout money. From his first day on the job, his efforts to protect against fraud and to hold the big banks accountable for how they spent taxpayer money were met with outright hostility from the Treasury officials in charge of the bailouts. Barofsky discloses how, in serving the interests of the banks, Treasury Secretary Timothy Geithner and his team worked with Wall Street executives to design programs that would funnel vast amounts of taxpayer money to their firms and would have allowed them to game the markets and make huge profits with almost no risk and no accountability, while repeatedly fighting Barofsky's efforts to put the necessary fraud protections in place. His investigations also uncovered abject mismanagement of the bailout of insurance giant AIG and Geithner's decision to allow the payment of millions of dollars in bonuses--including $7, 700 to a kitchen worker and $7,000 to a mail room assistant--and that the Obama administration's "TARP czar" lobbied for the executives to retain their high pay. Providing details about how, meanwhile, the interests of homeowners and the broader public were betrayed, Barofsky recounts how Geithner and his team steadfastly failed to fix glaring flaws in the Obama administration's homeowner relief program pointed out by Barofsky and other bailout watchdogs, rejecting anti-fraud measures, which unleashed a wave of abuses by mortgage providers against homeowners, even causing some who would not have lost their homes otherwise to go into foreclosure.
000454512 61020 $$aTroubled Asset Relief Program (U.S.)
000454512 650_0 $$aFinance$$xSubsidies$$zUnited States.
000454512 650_0 $$aBanks and banking$$xSubsidies$$zUnited States.
000454512 650_0 $$aCorporate debt$$zUnited States.
000454512 650_0 $$aGlobal Financial Crisis, 2008-2009.
000454512 650_0 $$aRich people$$zUnited States.
000454512 85200 $$bgen$$hHG181$$i.B32$$i2012
000454512 909CO $$ooai:library.usi.edu:454512$$pGLOBAL_SET
000454512 980__ $$aBIB
000454512 980__ $$aBOOK