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bailout_ an inside account of h - neil barofsky

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[...]... was, while I told him that my wife’s regular commute from New York had just ended because she had entered the final month of pregnancy with our first child I said I was excited about the imminent arrival of our daughter, and he said how thrilled he’d been about the birth of his first son decades before He then got to the heart of things Neil, you’re obviously very talented, with a bright future,” he... generous awarding of the highest level of rating, AAA, to a variety of mortgage-related bonds Though I thought it was the right thing to do to put myself up for the job, I was conflicted about what it would entail, and I told Mike that I had to consult my then fiancée, Karen She had weathered all of the craziness of my work on the trial of Grant just six months earlier, and although I knew she was resigned... way, that put me on the path to SIGTARP One of the breakthroughs in the case was the Colombian army’s willingness to share the names of former FARC guerrillas who had defected and sought asylum One of the best was “Jane,” who gave us detailed, corroborated evidence of FARC’s dominance of the Colombian cocaine trade During my third meeting with Jane in Bogotá, I told her that she was going to be one of. .. and lavish pay those risks generated with the assurance that if their outsized bets went wrong, the U.S taxpayer would cover their losses I had no idea that the U.S government had been captured by the banks and that those running the bailout program I’d be charged with overseeing would come from the very same institutions that had both helped cause the crisis and then become the beneficiaries of the... the next step was that the president had to sign off on the nomination, and then they would do a background check I’d have to fill out a number of forms, and then I’d still have to be confirmed by the Senate He said the White House was putting a rush on the process, so hopefully I’d be cleared in a few weeks He finished by saying “One thing You can’t tell anyone This can’t get out.” Though I told him... building, and Treasury all lined up next to one another The Treasury Building, instantly recognizable from its image on the back of the five-dollar bill, is an impressive block-long granite behemoth full of history The marble floors of the hallways are patterned in black and white diamonds, and you can make out the shapes of a stray nautilus and other fossils imprinted into the floors here and there, lending... prices and sign off on paperwork that typically hid that information, someone to generate a fake title report at closing that would disguise the first half of the transaction, and insiders at the lenders who would look the other way while generating fees and taking a cut of the action The profit from any single transaction could easily clear $100,000 Although the banks and other lenders were typically the... Richard Sullivan, the Narcotics Unit’s chief He was actually an odd match for me A tall, intense, deeply religious man who had never touched a drop of alcohol in his life, Rich worked tirelessly: he was always already at work when I arrived, and he often stayed after I’d left There were a lot of brilliant lawyers at the Office, and Rich was definitely one of them But what struck me about him was how... that it was too much to ask of Karen and me as we started our life together Looking back at it now, I had no idea that night what I was in for and what I’d learn I hadn’t yet understood the degree to which the entire crisis was unleashed by the greed of a small handful of executives who exploited a financial system that guaranteed that no matter what risks they took, they’d be able to keep the profits... to the waiting terrorists during one of our breaks She told me that she had been fully prepared to carry out the plan, but had changed her mind after I offered to put her into U.S witness protection, which she considered a better deal Her decision was not without consequences, though Jane was shot at before we took her out of Colombia, and she lost the baby She told us that FARC had also killed her . rights granted them under state franchise laws to shut them down. In this bracing, page-turning account of his stranger-than-fiction baptism into the corrupted ways of Washington, Neil Barofsky. Barofsky offers an irrefutable indictment, from an insider of the Bush and Obama administrations, of the mishandling of the $700 billion TARP bailout fund. In vivid behind-the-scenes detail, he reveals. fraud and to hold the big banks accountable for how they spent taxpayer money were met with outright hostility from the Treasury officials in charge of the bailouts. Barofsky discloses how, in

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