Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street

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Simon and Schuster, Jul 24, 2012 - Political Science - 288 pages
6 Reviews
In this riveting account of the mishandling of the TARP bailout fund, a former federal prosecutor offers behind-the-scenes proof of the corrupt ways Washington officials serve the interests of Wall Street.

In this bracing, page-turning account of his stranger-than-fiction baptism into the corrupted ways of Washington, Neil Barofsky offers an irrefutable insider indictment of the mishandling of the $700 billion TARP bailout fund. During the height of the financial crisis in 2008, Barofsky gave up his job in the esteemed US Attorney’s Office in New York City to become the special inspector general overseeing the spending of the bailout money. But from day one his efforts to protect against fraud and to hold the big banks accountable were met with outright hostility from Treasury officials. Bailout is a riveting account of Barofsky’s plunge into the political meat grinder of Washington, and a vital revelation of just how captured by Wall Street our political system is and why the banks have only become bigger and more dangerous in the wake of the crisis.
 

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LibraryThing Review

User Review  - AllInStride - LibraryThing

A good analysis of the bailout from the perspective of the TARP inspector general. No big surprises or revelations, but an easily readable account of the bailouts starting in 2008. Read full review

LibraryThing Review

User Review  - branjohb - LibraryThing

Here is another one of those books that I put in the category as a tell all, shameless commercial exploitation. The author worked for the government during the bailouts so he decided to write a book ... Read full review

Contents

Fraud 101
1
Hank Wants to Make It Work
20
The Lapdog the Watchdog and the Junkyard
64
Drinking the Wall Street KoolAid
79
The Worst Thing That Happens We Go Back Home
98
By Wall Street for Wall Street
121
Foaming the Runway
138
The Audacity of Math
159
The Essential 7700 Kitchen Assistant
175
Treasurys Backseat Driver
192
Happy Endings
209
Acknowledgments
235
Index
241
64
261
79
269
Copyright

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About the author (2012)

Neil Barofsky served as the Special Inspector General in charge of overseeing TARP from December 2008 until March 2011. For eight years prior, he was a federal prosecutor in the US Attorney’s Office for the Southern District of New York, during which time he headed the Mortgage Fraud Group. Currently, Neil Barofsky is a senior fellow at New York University School of Law. An alum of the University of Pennsylvania and the New York University School of Law, this is his first book.

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