Neil Barofsky

Foreclosure Crisis Lessons Not Yet Learned

Neil Barofsky | Posted 12.05.2011

Read More: Mortgage Crisis, Mortgage Fraud, Tarp, Neil Barofsky, Hamp, Robo-Signers, Robo-Signing, Housing Crisis, Business News
Neil Barofsky

When I stepped down as the Special Inspector General for TARP at the end of March, I warned that HAMP was falling far short of its stated goals and even further short of meeting the urgent needs of American homeowners. Unfortunately, there has been little improvement since then.

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What Is Truth?

Lydia Fisher | Posted 09.10.2011

Read More: Cinderella of Wall Street, Economic Crisis, Ethics, Global Financial Crisis, Business News, Lydia Fisher, Neil Barofsky, Truth, Bailouts, Too Big to Fail, Tarp, Business News
Lydia Fisher

Falsehood creates a convoluted mess, a sense of disorder. Hold that thought and think "cause and effect" -- the financial crisis largely created our fiscal crisis leading now to the US national debt ceiling problem.

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Lessons From the Crisis

Neil Barofsky | Posted 09.06.2011

Read More: Tarp, Dodd-Frank, TARP Money, Economy, Financial Reform, Too Big to Fail, Economic Crisis, Bank of America, Neil Barofsky, Dodd-Frank Bill, Goldman Sachs, Merrill Lynch, JP Morgan, Wall Street Crisis, Wall Street, Bailout, Finance, Financial Crisis, Timothy Geithner, Citigroup, Business News
Neil Barofsky

The most striking lessons from the financial crisis and its aftermath already appear either to have been forgotten or to have never been learned. The American financial system can still be brought to its knees by the poor decisions of a small group of executives.

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Shahien Nasiripour

Treasury Punishes Three Banks For Poor Mortgage Servicing

HuffingtonPost.com | Shahien Nasiripour | Posted 08.09.2011

Read More: JPMorgan Chase, Treasury Department, Hamp, Banks, Making Home Affordable, Teri Schrettenbrunner, Home Affordable Modification Program, Wells Fargo, Bank of America, Neil Barofsky, Barack Obama, Tim Massad, Business News

WASHINGTON -- The Treasury Department will temporarily withhold payments to the nation's three largest mortgage companies for failing to comply with t...

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"A Moral Disaster" Coming Near You, Produced by Wall Street and Washington

Lydia Fisher | Posted 08.09.2011

Read More: Debt, Flash Mobs, Crime, Too Big to Fail, Joblessness, Neil Barofsky, US Debt Ceiling, Moral Disaster, Homelessness, Wall Street, Ethics, National Debt Default, Moral Hazard, Toxic Assets, Accountability, Business News
Lydia Fisher

Managing to the short-term, managing to self-interest and hoping for a "happily ever after." It's beginning to feel a bit like rearranging the deck chairs on the Titanic.

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Shahien Nasiripour

Obama Treasury Celebrates Bailout Profits While Ignoring Costs, Legacy

HuffingtonPost.com | Shahien Nasiripour | Posted 05.30.2011

Read More: Tarp, Tarp Bailout, TARP Profits, Wall Street Bailout, Neil Barofsky, Timothy Geithner, Sigtarp, Bailout Profits, Financial Crisis, Business News

NEW YORK -- On Wednesday, the Treasury Department celebrated the fact that its $250 billion investment in the nation's banking system has officially m...

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Top Government Watchdog Stepping Down

AP | DANIEL WAGNER | Posted 05.25.2011

Read More: Neil Barofsky, Troubled Asset Relief Program, Treasury Department, Top Watchdog, $700B Financial Bailout, Business News, Business News

WASHINGTON — The government's top watchdog over the $700 billion financial bailout said Monday that he will step down next month, after leading ...

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Watchdog Says Overhaul Won't Stopped Future Bailouts

AP | DANIEL WAGNER | Posted 05.25.2011

Read More: Bailout Watchdog, House Committee on Oversight and Government Reform, Tarp, Neil Barofsky, Bailout Funds, Bailout, Sigtarp, Tim Geithner, Financial Reform, Financial Regulations, Business News

WASHINGTON — A Treasury Department official said Wednesday that the financial regulatory law enacted last summer will help the government avoid ...

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Treasury Concealed Likely AIG Bailout Loss, Federal Auditor Says

Posted 05.25.2011

Read More: AIG Bailout Cost, Treasury Department, AIG Treasury, Troubled Asset Relief Program, AIG Bailout, AIG Taxpayer Bailout, Neil Barofsky, Tarp Auditor, Sigtarp, AIG Bailout Loss, Tarp, AIG Valuation, Business News

The U.S. Treasury concealed $40 billion in likely taxpayer losses on the bailout of American International Group (AIG.N), the New York Times said, c...

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Bailout Watchdog Investigating Alleged Foreclosure Fraud

AP | DANIEL WAGNER | Posted 05.25.2011

Read More: Foreclosures, Sigtarp Gmac, Foreclosure Crisis, Neil Barofsky, Housing Crisis, Foreclosure, Sigtarp, Gmac, GMAC Foreclosures, Mortgage Crisis, Business News

WASHINGTON — A government watchdog is investigating government-owned GMAC Mortgage after a company employee admitted to approving thousands of f...

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Gretchen Morgenson: General Motors 'Paid Back' Bailout Funds With Other Taxpayer Dollars

New York Times | Posted 05.25.2011

Read More: Tarp, Neil Barofsky, General Motors, General Motors Bailout, GM Bailout, Business News

Taxpayers are naturally eager for news about bailout repayments. But what neither G.M. nor the Treasury disclosed was that the company simply used oth...

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Neil Barofsky, TARP Watchdog: Criminal Charges Could Be Coming For New York Fed In AIG Scandal

Huffington Post | Ryan McCarthy | Posted 05.25.2011

Read More: AIG Coverup, Treasury Department, TARP Watchdog, Tim Geithner, AIG Bailout, Aig, Neil Barofsky, Sigtarp, AIG Scandal, Business News

The government-appointed watchdog for the government's $700 billion bailout program says that the New York Federal Reserve could be hit with criminal ...

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Shahien Nasiripour

Watchdog: Obama Foreclosure Program Is Likely To Be A Failure

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Loan Modification, Mortgage Modifications, Making Home Affordable, Mortgage Walk Away, Mha, Neil Barofsky, Obama Administration, Inspector General, Hamp, Foreclosure Crisis, Home Affordable Modification Program, Financial Crisis, Strategic Defaults, Sigtarp, Ig, Video, Business News

The Obama administration's signature foreclosure-prevention program is likely to be a failure and has not done enough to help struggling homeowners wh...

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Bailout Watchdog To Shine Light On Mortgage Program

AP | ALAN ZIBEL | Posted 05.25.2011

Read More: Mortgage Investigation, Mortgage Modification, Neil Barofsky Mortgages, Mortgage Oversight, Neil Barofsky Investigates, Sigtarp, Mortgage Loans, Neil Barofsky Oversight, Neil Barofsky Mortgage Investigation, Neil Barofsky, Mortgage Crisis, Business News

WASHINGTON — The federal bank bailout watchdog is planning to scrutinize the formula used by mortgage companies to evaluate borrowers for the Ob...

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The CDOs That Destroyed AIG: The Big Short Doesn't Quite Reveal What They Knew and When They Knew It

David Fiderer | Posted 05.25.2011

Read More: Cdos, Hank Paulson, Darrell Issa, Vanity Fair, The Big Short, Mortgage Crisis, Neil Barofsky, Aig, Credit Rating Agencies, Federal Reserve, Michael Lewis, Bankers, Collateralized Debt Obligations, Investment Banks, Goldman Sachs, Subprime Mortgages, Portfolio Magazine, John Paulson, Hedge Funds, Subprime Mortgage Crisis, Hedge Fund Managers, House Oversight Committee, Henry Paulson, Michael-Lewis-Vanity-Fair, Sigtarp, Business News
David Fiderer

It's been eighteen months since AIG collapsed, and Congress has yet to seriously focus on the most important questions: What did they know and when did they know it?

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Treasury Bailout Records Fail To Include Key Details, Says Watchdog

AP | DANIEL WAGNER | Posted 05.25.2011

Read More: Treasury Department, Neil Barofsky, Bailout, Wall Street Bailout, Bank Bailout, Treasury Bailout, Bailout Records, Treasury Bailout Records, Warrants, Business News

WASHINGTON — The Treasury Department is lax about keeping records of its negotiations with bailed-out banks, including undocumented conversation...

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Cuomo: Bank Of America, Ken Lewis Charged With Fraud

Posted 05.25.2011

Read More: Andrew Cuomo, Bailout, Ken Lewis, Economy, Merrill Lynch Bank of America, Bank of America, Joe Price, Financial Crisis, Neil Barofsky, Bank of America Bailout, New York Attorney General, Merril Lynch Bank of America Merger, Video, Business News

New York Attorney General Andrew Cuomo filed fraud charges against Bank of America and its former top executives this morning, alleging the bank manip...

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Neil Barofsky: 'My Job Is To Be A Pain In The Ass'

New York Magazine | Jessica Pressler | Posted 05.25.2011

Read More: Bailout, Troubled Asset Relief Program, Neil Barofsky, Obama Administration, Neil Barofsky TARP, TARP COP, Tarp, New York, Business News

...

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TARP Watchdog Neil Barofsky: Government Bailout Has Increased Risk Of Economic Crisis

AP | DANIEL WAGNER and ALAN ZIBEL | Posted 05.25.2011

Read More: Financial Crisis, Tarp, Neil Barofsky, Troubled Asset Relief Program, Economic Crisis, Business News

WASHINGTON — The government's response to the financial meltdown has made it more likely the United States will face a deeper crisis in the futu...

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Holden Caulfield on Banking

Norb Vonnegut | Posted 05.25.2011

Read More: Fed, Goldman Sachs, Aig, J.D. Salinger, Wall Street, Jean-Claude Trichet, Bailouts, Holden Caulfield, Geithner, Neil Barofsky, Business News
Norb Vonnegut

Do you get the sense that the banking reform melee is like one massive free-for-all where the combatants, all snarling and backbiting each another, will stymie true and productive reform and turn it "phony?"

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TARP Watchdog, Neil Brofsky, To Launch Investigation Into Fed's Secrecy On AIG Bailout

AP | DANIEL WAGNER | Posted 05.25.2011

Read More: Aig Emails, TARP Watchdog, Fed AIG, Tim Geithner, Fed, AIG Bailout, Neil Barofsky, Federal Reserve, Ben Bernanke, Trouble-Asset-Releif-Program, American International Group, NY Fed, Business News

...

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Shahien Nasiripour

Geithner Singled Out In TARP Watchdog's Scathing Report On AIG Bailout

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011

Read More: Tarp, Wells Fargo, Troubled Asset Relief Program, Bank of America, Federal Reserve, Neil Barofsky, Aig, American International Group, Federal Reserve Bank of New York, Merrill Lynch, Goldman Sachs, Bailout, Tim Geithner, Financial Crisis, Wachovia, Sigtarp, Video, Business News

A brutal report issued Monday by a government watchdog holds Timothy Geithner -- then the head of the Federal Reserve Bank of New York and now the nat...

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Neil Barofsky: Bailout Helped But At A Great Cost

AP | JIM KUHNHENN | Posted 05.25.2011

Read More: Tarp, Wall Street Bailout, Wall Street, Bailout, Economy, Economic Crisis, Financial Crisis, Neil Barofsky, Goverment Watchdogs, Economic Recovery, Business News

WASHINGTON — The man who watches over the $700 billion in government money given to banks and other institutions to avert a financial collapse said ...

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After Helping Gordon Gekko Evade the SEC, Will Geithner Finally Now Be Fired?

David Sirota | Posted 05.25.2011

Read More: Timothy Geithner, Goldman Sachs, Wall Street Bailout, Credit Default Swap, AIG Bailout, Neil Barofsky, Aig, Financial Crisis, Sec, New York Federal Reserve Bank, Politics News
David Sirota

It's appalling to learn that one government agency was actively encouraging a private corporation to withhold information from another government agency.

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Revisiting The Fed's Bailout Of AIG And The Benefits For Goldman Sachs

New York Times | GRETCHEN MORGENSON | Posted 05.25.2011

Read More: Tarp, Barofsky Tarp Report, Getihner, Goldman Sachs, Tarp Report, AIG Bailout, Neil Barofsky, Goldman, Taxpayers, The Fed, Aig, Bailout, Fed, New York Fed, Treasury, Bernanke, Hedge, Financial Crisis, Hank Paulson, Business News

A RAY of sunlight broke through the Washington fog last week when Neil M. Barofsky, special inspector general for the Troubled Asset Relief Program, p...

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