Neil Barofsky, the former Special Inspector General for the Troubled
Asset Relief Program (TARP) (SIGTARP), was one of the officials that
made one proud of America. Naturally, Treasury Secretary Timothy
Geithner detested him. Barofsky discusses Geithner’s antipathy for him
in a newly published book: “Bailout: An Inside Account of How Washington
Abandoned Main Street While Rescuing Wall Street.” The juicy parts
that have been discussed in the media
involve Geithner’s epic “f” word rant against Barofsky in fall 2009 in
response to Barofsky’s recommendations for greater transparency about
TARP.
The Huffington Post article quotes from the book’s description of the meeting:
“As we parried back and forth, Geithner repeatedly reached a pitch of anger, regaling me with detailed expletive-filled explanations that established my apparent idiocy. He would then calm himself down and give me a forced, almost demonic smile.”
My column, however, expands on the article’s last paragraph:
“[T]he more-damning allegations of the book [are] that Geithner’s Treasury Department repeatedly tried to undermine Barofsky’s authority, ignoring his warnings about the risk of fraud in TARP programs and generally carrying water for the banking industry.”
Read more: http://neweconomicperspectives.org/2012/07/reinventing-crony-capitalism-the-context-of-geithners-obscene-rant-against-barofsky.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+neweconomicperspectives%2FyMfv+%28New+Economic+Perspectives%29
The Huffington Post article quotes from the book’s description of the meeting:
“As we parried back and forth, Geithner repeatedly reached a pitch of anger, regaling me with detailed expletive-filled explanations that established my apparent idiocy. He would then calm himself down and give me a forced, almost demonic smile.”
My column, however, expands on the article’s last paragraph:
“[T]he more-damning allegations of the book [are] that Geithner’s Treasury Department repeatedly tried to undermine Barofsky’s authority, ignoring his warnings about the risk of fraud in TARP programs and generally carrying water for the banking industry.”
Read more: http://neweconomicperspectives.org/2012/07/reinventing-crony-capitalism-the-context-of-geithners-obscene-rant-against-barofsky.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+neweconomicperspectives%2FyMfv+%28New+Economic+Perspectives%29
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