“Bailout is a jaw-dropping play-by-play of ways the Treasury division bungled the monetary bailouts…With a prosecutor’s good judgment and copious footnotes, Barofsky makes it transparent that issues are hardly what they appear in Washington.”—USA TODAY
At the peak of the monetary challenge in 2008, Neil Barofsky gave up his activity as a prosecutor within the esteemed US Attorney’s place of work in big apple urban, the place he had convicted drug kingpins, Wall road executives, and perpetrators of loan fraud, to turn into the inspector basic accountable for overseeing management of the bailout cash. From the onset, his efforts to guard opposed to fraud and to carry massive banks liable for how they spent taxpayer cash have been met with outright hostility from Treasury officers answerable for the bailouts.
In this bracing, page-turning account Barofsky bargains an insider’s standpoint at the mishandling of the $700 billion TARP (Troubled Asset aid application) bailout fund. With brilliant behind-the-scenes element, he finds the extraordinary lengths to which our executive officers have been prepared to head in an effort to serve the pursuits of Wall road corporations on the cost of the wider public—and on the fee of powerful monetary reform.
Bailout is a riveting account of Barovsky’s plunge into the political meat grinder of Washington, in addition to a necessary revelation of simply how captured by means of Wall highway our political procedure is and why the too-big-to-fail banks became even higher and extra harmful within the wake of the challenge.