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Watchdog excoriates execution of TARP
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| Contributor | kal |
| Last Edited | kal Oct 21, 2009 01:07pm |
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| Category | General |
| Media | Newspaper - USA Today |
| News Date | Wednesday, October 21, 2009 07:05:00 PM UTC0:0 |
| Description | A Treasury Department watchdog is warning that a key $700 billion bailout program has damaged the government's credibility, won't earn taxpayers all their money back and has done little to change a culture of recklessness on Wall Street.
"The American people's belief that the funds went into a black hole, or that there was a transfer of wealth from taxpayers to Wall Street, is one of the worst outcomes of this program, and that is the reputational damage to the government," said Neil Barofsky, special inspector general of the Troubled Asset Relief Program (TARP), in an interview.
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