Democrat Inspector General: Bush officials more honest and reliable

[Capt Bringdown]

Barofsky reveals lie of Obama Administration (http://www.nakedcapitalism.com/2012/08/in-bailout-neil-barofsky-reveals-the-key-lie-of-the-obama-administration.html)

Neil Barofsky’s new memoir Bailout, is not just a great read, it’s also a very important story about what happened after the financial crisis. Barofsky, who was the Special Inspector General for TARP, was in a vantage point to view the entirety of the Obama policy apparatus, from the use of TARP to pad bank balance sheets to Treasury’s PPIP program to the reorganization of the auto industry to the housing crisis.

Congress’s approval rating is in the toilet, and the legislature is used as a scapegoat for any number of problems. The public likes the President, broadly speaking, but thinks of Congress as immensely corrupt and inept. Barofsky’s book essentially says that the public has this story backwards – it was Treasury, he argues, who was uninterested in preserving taxpayer dollars from fraud. And it was Congress, figures like Barney Frank, Darryl Issa, Richard Shelby, and others, who were the major forces behind what little accountability there was towards the banks. Even more shockingly, Barofsky notes that actors in the Bush administration, from Hank Paulson to Neel Kashkari, were more honest and reliable than those in the Obama administration.Barofsky, a self-described Democrat, found this surprising.

Perhaps the most important revelation in the book is a meeting with Geithner that Barofsky recounts, where Geithner says that Treasury’s housing initiatives were successful, despite their inability to stem the tide of foreclosures. The programs were meant, Geithner says, to “foam the runway” for banks, spread out foreclosures since banks couldn’t take a hit all at once. The publicly stated rationale for administration housing initiatives, in other words, was simply a lie. The Obama administration didn’t try to prevent a foreclosure crisis, they just spaced it out to help the large banks. This is very important information, and it’s useful that it has come out now.

- more - > (http://www.nakedcapitalism.com/2012/08/in-bailout-neil-barofsky-reveals-the-key-lie-of-the-obama-administration.html)

[ElNono]

Shouldn't be surprising. This administration has been in bed with banks and bankers, just as much or more than the last one.

[boutons_deux]

Do you really think Repug Treasury under McLiar would have done anything differently?

Wall St OWNS and OPERATES the Treasury and their ATM, the Fed.

[jack sommerset]

Yup...it's time to get rid of Obama. God bless

[DarrinS]

Somewhere, Chris Matthews just went from full wood to a semi.

[Clipper Nation]

Yup...it's time to get rid of Obama. God bless

And write in Ron Paul.... Ron bless

[jack sommerset]

And write in Ron Paul.... Ron bless

Waste of vote, brother. It's either mitt or Obama. God bless

[Capt Bringdown]

Shouldn't be surprising. This administration has been in bed with banks and bankers, just as much or more than the last one.

Who said anything about being surprised?
http://blackagendareport.com/sites/www.blackagendareport.com/files/imagecache/feature400/illusion_of_choice.jpg

[boutons_deux]

Yup...it's time to get rid of Obama. God bless

Your adored, respected, venerated Wall St Banksters are giving to their 1%er gecko 5+ times more than they are giving to HUSSEIN.

[jack sommerset]

Your adored, respected, venerated Wall St Banksters are giving to their 1%er gecko 5+ times more than they are giving to HUSSEIN.

Envy is one of the deadly sins, brother. And its pretty obvious you want to be apart of that 1 percent. God bless

[ElNono]

When it comes to bankers, it doesn't matter who's the prez...

[Capt Bringdown]

When it comes to bankers, it doesn't matter who's the prez...

Perhaps, but that's no reason to be incurious and passive. Not ragging on you specifically, but the "why should you be surprised" response to just about any topic strikes me as incredibly lame. Which is why I guess it's the favorite of internet know-it-alls world-wide.

Did you hear, Joe's house burned down?

Why are you surprised, it's made of wood?

Ohh, fuck off.

[ElNono]

I'm definitely in the camp that thinks this stuff is serious and real... unfortunately, books like this guys' are, at most, hearsay, and aren't enough to jail any of these alleged crooks.

We need less books and more of these guys facing a court of law. The things is, the political system is so tilted right now towards these guys, it's just disheartening.

[boutons_deux]

Envy is one of the deadly sins, brother. And its pretty obvious you want to be apart of that 1 percent. God bless

the old envy argument, GFY and god bless

[boutons_deux]

I'm definitely in the camp that thinks this stuff is serious and real... unfortunately, books like this guys' are, at most, hearsay, and aren't enough to jail any of these alleged crooks.

We need less books and more of these guys facing a court of law. The things is, the political system is so tilted right now towards these guys, it's just disheartening.

iow, America is fucked and unfuckable.

There simply ain't no way the 99% is gonna be able to increase their wealth because the 1% is stealing so much of it, and using a tiny fraction of it to buy, via C-U, every fucking politician at every level.

[Wild Cobra]

iow, America is fucked and unfuckable.

There simply ain't no way the 99% is gonna be able to increase their wealth because the 1% is stealing so much of it, and using a tiny fraction of it to buy, via C-U, every fucking politician at every level.
Well, if the 99% would stop electing people who give America's wealth away, things could change. Until then, blame the 99%.

[boutons_deux]

Well, if the 99% would stop electing people who give America's wealth away, things could change. Until then, blame the 99%.

bullshit. the "system" doesn't put forward (ie, support with $10Ms) candidates who put The Great American People first.

If Rove's $Bs buys the WH for Gecko, that will be proof that America is fucked and irrecoverable.

[Wild Cobra]

bullshit. the "system" doesn't put forward (ie, support with $10Ms) candidates who put The Great American People first.

If Rove's $Bs buys the WH for Gecko, that will be proof that America is fucked and irrecoverable.
So...

You are saying the 99% are too stupid to make wise choices then, right?

[jack sommerset]

the old envy argument, GFY and god bless

If Mitt invited you to the 1 percenters club you would be whistling dixie all the way to the land where money never sleeps pissing on anyone who dare mention more taxes. That's your envy. God bless

[coyotes_geek]

Do you really think Repug Treasury under McLiar would have done anything differently?

Sure. McCain probably would have kept Paulson instead of appointing Geitner who's been nothing but a wall street lap dog. McCain certainly wouldn't have appointed that incompetent buffoon Eric Holder who's done nothing but watch the statute of limitations on financial fraud expire without any notable convictions of banking executives.

[boutons_deux]

So...

You are saying the 99% are too stupid to make wise choices then, right?

RIF

I'm saying the 99% is presented with candidates that the 1% chooses and finances. eg, see how the Repugs have intimidated, targeted every moderate Repug while Kock Bros finance it all.

[CosmicCowboy]

RIF

I'm saying the 99% is presented with candidates that the 1% chooses and finances. eg, see how the Repugs have intimidated, targeted every moderate Repug while Kock Bros finance it all.

There were a lot of candidates in that clown car primary that were more conservative than Romney. Why didn't the Koch brothers pick them?

[boutons_deux]

Sure. McCain probably would have kept Paulson instead of appointing Geitner who's been nothing but a wall street lap dog. McCain certainly wouldn't have appointed that incompetent buffoon Eric Holder who's done nothing but watch the statute of limitations on financial fraud expire without any notable convictions of banking executives.

Paulson would have been different from Geithner? GMAFB :lol

different yes, very probably a lot worse

Paulson was the guy whose 3-pager said

"give me $700B (a number later reported pulled out of his ass),

give it to me in 7 days max,

and put me and the $700B beyond the reach of the legislature and judicial"

... or else, Wall St crashes the economy.

[coyotes_geek]

Paulson would have been different from Geithner? GMAFB :lol

different yes, very probably a lot worse

Paulson was the guy whose 3-pager said

"give me $700B (a number later reported pulled out of his ass),

give it to me in 7 days max,

and put me and the $700B beyond the reach of the legislature and judicial"

... or else, Wall St crashes the economy.

Sure looks like Barofsky thinks Paulson would have been better. But what would he know about it?

[Yonivore]

Shouldn't be surprising. This administration has been in bed with banks and bankers, just as much or more than the last one.
And, since before the end of the last administration...

[TeyshaBlue]

Sure looks like Barofsky thinks Paulson would have been better. But what would he know about it?

Barofsky would be a genius, but only if he posted on alternet or thinkprogress.borg.

[Th'Pusher]

So why is wall street ditching Obama and Breaking for Romney this cycle? Honest question.

Wall Street ditches Obama, backs Romney (http://money.cnn.com/2012/05/29/news/economy/romney-obama-wall-street/index.htm)

[coyotes_geek]

Barofsky would be a genius, but only if he posted on alternet or thinkprogress.borg.

:lol

It is a shame that Barofsky isn't smart enough to let someone else do his thinking for him.

[Yonivore]

Barofsky would be a genius, but only if he posted on alternet or thinkprogress.borg.
:tu

[coyotes_geek]

So why is wall street ditching Obama and Breaking for Romney this cycle? Honest question.

Wall Street ditches Obama, backs Romney (http://money.cnn.com/2012/05/29/news/economy/romney-obama-wall-street/index.htm)

Looks to me they like Romney more than they like Obama whom they liked more than McCain.

[Th'Pusher]

Looks to me they like Romney more than they like Obama whom they liked more than McCain.

Well if Obama is in bed with Wall Street and they like Romney even more than Obama, then what does that say about Romney?

[coyotes_geek]

You tell me.

[boutons_deux]

So why is wall street ditching Obama and Breaking for Romney this cycle? Honest question.

Wall Street ditches Obama, backs Romney (http://money.cnn.com/2012/05/29/news/economy/romney-obama-wall-street/index.htm)

Wall St knows, and hears, that Gecko/Ryan would destroy all financial regulation and cut 1%'s taxes. Estimates are that Ryan's budget would reduce Gecko's tax to 1%.

[TeyshaBlue]

cue alternet in 3....2....1....

[boutons_deux]

TB :lol

[TeyshaBlue]

I can't construct cogent, original thoughts.

[Th'Pusher]

You tell me.

I would say that they are not too happy with the Dodd Frank act and find Romney's rhetoric to repeal it alluring.

[boutons_deux]

TB :lol