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Barofsky Indicts the Bailout, Underscores Need for Glass-Steagall

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Bailout: An Inside Account of How
Washington Abandoned Main Street
While Rescuing Wall Street

by Neil Barofsky

New York: Simon and Shuster, 2012
288 pages, hardcover, $26

Aug. 4—As the Special Inspector General of the Troubled Asset Relief
Program (SIGTARP), Neil Barofsky was in a unique position to view the attitudes and operations of topranking U.S. Treasury officials
during a particular part of the bailout. What Barofsky found made him angry, and that anger permeates his book.

In the Afterword, where he reflects back on his time in Washington,
Barofsky says the American people are right to be “enraged by the broken promises to Main Street and the unending protection of Wall Street. Because only with this appropriate and justified rage can we sow the seeds for the types of reform that will one day break our system free from the corrupting grasp of the megabanks.”

In numerous interviews on the book promotion circuit, Barofsky has expounded on the need for not only stronger regulations, but also prosecutions of financial crimes. He has called for ...

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