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Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street - Neil Barofsky [epub]

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Description

 							
  “Bailout is a
jaw-dropping play-by-play of how the Treasury Department bungled the financial bailouts…With a prosecutor’s
logic and copious footnotes, Barofsky makes it clear that things are rarely what they seem in
Washington.”—USA TODAY
  
  At the height of the financial crisis in 2008, Neil Barofsky gave up
his job as a prosecutor in the esteemed US Attorney’s Office in New York City, where he had convicted drug
kingpins, Wall Street executives, and perpetrators of mortgage fraud, to become the inspector general in charge of
overseeing administration of the bailout money. From the onset, his efforts to protect against fraud and to hold big
banks accountable for how they spent taxpayer money were met with outright hostility from Treasury officials in charge
of the bailouts.
  
  In this bracing, page-turning account Barofsky offers an insider’s perspective on
the mishandling of the $700 billion TARP (Troubled Asset Relief Program) bailout fund. With vivid behind-the-scenes
detail, he reveals the extreme lengths to which our government officials were willing to go in order to serve the
interests of Wall Street firms at the expense of the broader public—and at the expense of effective financial
reform.
  
  Bailout is a riveting account of Barofsky’s plunge into the political meat grinder of
Washington, as well as a vital revelation of just how captured by Wall Street our political system is and why the
too-big-to-fail banks have become even bigger and more dangerous in the wake of the crisis. 						

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