TARP Watchdog Says Criminal Charges May Be On the Table For New York Fed Over AIG Coverup

[girl gone mad]

Neil Barofsky, The Special Inspector General for TARP oversight, better known as SIGTARP, says criminal or civil charges are still on the table in the AIG coverup, according to a long profile at Bloomberg.

In the eye-opening piece, Barofsky talks about how he got a crappy basement office in the Treasury building and likens its foul smell to relations between the Treasury department and himself.

Since Barofsky's job is to watchover TARP
funds and how they're used. it should come as no surprise that when $700 billion is on the line, funds are bound to be misappropriated.

So what's the essence of Barofsky's beef? A few things:

"Barofsky’s most recent broadside came on April 20, when a SIGTARP report labeled a housing-loan modification program funded with $50 billion of TARP money as ineffectual."

He has also criticized Tim Geithner in reports for his handling of the AIG bailout back when he was Chair of the NY Fed.

Mortgage deals involving CDOs similar to the ABACUS deal.

How both Obama and Bush handled the financial crisis.

So now the SEC and Barofsky are working together to comb over the details and review whether or not filing charges is appropriate, according to Bloomberg...

Read more: http://www.businessinsider.com/sigtarp-says-criminal-charges-may-be-on-the-table-for-geithner-and-co-over-aig-deals-2010-4#ixzz0mPA4joNI

[upi402]

1. Crowded table, very dry powder

I want to see these evil crooks in cuffs and hobbled.

[girl gone mad]

2. Geithner should face charges..

but I think it will end up swept under the rug.

[Po_d Mainiac]

3. Ya think anyone would notice all the lumps under the carpet, let alone the odor? n/t

[jtuck004]

6. In the Astronaut Farmer when the repossession agent asks how many head

he has, there is a silence and,Billy Bob Thornton's character says

"you know how many acres I have? I have over 200. You know how hard it is to find a body buried out here?"
Bank examiner - "I'm not the bad guy here"
Farmer - "Well, you ain't the good guy either"

or something along those lines.

I think of this every time I hear them act like the money they took out of this economy is justified, even though
it took teachers away from so many kids, jobs and homes from so many parents, etc. I would think even mediocre
teachers would do more for us than these amoral SOB's.

[chill_wind]

4. K & R. n/t

[chill_wind]

5. You would think

this would be on the GP hours and hours ago.