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Neil Barofsky

Entries by Neil Barofsky

Foreclosure Crisis Lessons Not Yet Learned

(131) Comments | Posted October 5, 2011 | 10:13 AM

The Home Affordable Modification Program ("HAMP") emerged from Treasury's initial promise that Troubled Asset Relief Program would be used to bail out homeowners on Main Street as well as the megabanks on Wall Street. As originally sold to Congress, TARP funds would be used to purchase "troubled assets" -- the...

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A Washington Credibility Downgrade

(0) Comments | Posted July 27, 2011 | 1:31 PM

We have been told that unless the legislative process is well under way by today, and a bill raising the debt limit is passed and in place by Aug. 2, catastrophe will strike the U.S.

This follows previous warnings of other calamitous deadlines that have come and gone with little...

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Lessons From the Crisis

(212) Comments | Posted July 7, 2011 | 12:58 PM

Two of the most striking lessons from the financial crisis and its aftermath -- that the continued existence of financial institutions deemed "too big to fail" seriously threatens the nation's economy and fiscal well-being, and that our financial regulators have a limited ability to oversee those institutions -- appear either...

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