History, Evolution, and The Darwin Debate

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Bailout to OWS

July 31st, 2012 · No Comments


In Bailout, Barofsky, a Democrat, who is currently a senior fellow at the New York University School of Law, recounts his experiences as Inspector General, which spanned the administrations of George W. Bush and Barack Obama. Mad as hell and convinced that we should be “revolted” as well, he demonstrates that the Great Recession was triggered by buccaneers who knew that no matter what risks they took, U.S. taxpayers would foot the bill; that high level government bureaucrats in both parties care more about ego, turf, political capital, covering their assess, and currying favor with influential executives (and, often, former and future colleagues) on Wall Street than serving the public; and that precious little has been done to prevent another financial meltdown.

Barofsky’s views are not new, of course. Think Occupy Wall Street. Bailout is an important book, however, because Barofsky is a credible witness and whistle-blower, who supports his analysis with concrete details about TARP policies and their implementation.

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