Bailout: How Washington Abandoned Main Street While Rescuing Wall Street,New

Bailout: How Washington Abandoned Main Street While Rescuing Wall Street,New

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Bailout is a jawdropping playbyplay of how the Treasury Department bungled the financial bailoutsWith a prosecutors logic and copious footnotes, Barofsky makes it clear that things are rarely what they seem in Washington.USA TODAYAt the height of the financial crisis in 2008, Neil Barofsky gave up his job as a prosecutor in the esteemed US Attorneys Office in New York City, where he had convicted drug kingpins, Wall Street executives, and perpetrators of mortgage fraud, to become the inspector general in charge of overseeing administration of the bailout money. From the onset, his efforts to protect against fraud and to hold big banks accountable for how they spent taxpayer money were met with outright hostility from Treasury officials in charge of the bailouts.In this bracing, pageturning account Barofsky offers an insiders perspective on the mishandling of the $700 billion TARP (Troubled Asset Relief Program) bailout fund. With vivid behindthescenes detail, he reveals the extreme lengths to which our government officials were willing to go in order to serve the interests of Wall Street firms at the expense of the broader publicand at the expense of effective financial reform.Bailout is a riveting account of Barovskys plunge into the political meat grinder of Washington, as well as a vital revelation of just how captured by Wall Street our political system is and why the toobigtofail banks have become even bigger and more dangerous in the wake of the crisis.

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Frequently Asked Questions

  • Q: What is the main focus of the book 'Bailout' by Neil Barofsky? A: The book focuses on how Washington officials mishandled the financial bailouts during the 2008 financial crisis, particularly the TARP bailout fund, and the ways in which they served Wall Street's interests over the public's.
  • Q: Who is the author of 'Bailout' and what is his background? A: The author, Neil Barofsky, is a former federal prosecutor who oversaw the administration of the bailout money as the inspector general during the financial crisis.
  • Q: What type of information can I expect to find in 'Bailout'? A: Readers can expect a detailed account of the political dynamics in Washington during the bailouts, including insider perspectives, detailed anecdotes, and critiques of government actions.
  • Q: How many pages is the book 'Bailout'? A: The book 'Bailout' contains 304 pages.
  • Q: What is the publication date of 'Bailout'? A: The book was published on February 5, 2013.
  • Q: Is 'Bailout' available in different formats? A: Yes, 'Bailout' is available in paperback format.
  • Q: What are the key themes explored in 'Bailout'? A: Key themes include government corruption, accountability in financial practices, the influence of Wall Street on politics, and the consequences of the financial crisis.
  • Q: Can 'Bailout' be considered a critical analysis of the financial system? A: Yes, 'Bailout' serves as a critical analysis of the financial system, particularly examining how governmental policies favored large banks over the general public.
  • Q: What audience would benefit from reading 'Bailout'? A: The book is suitable for readers interested in politics, finance, economic policy, and those seeking an understanding of the 2008 financial crisis.
  • Q: What edition of 'Bailout' is available for purchase? A: The available edition of 'Bailout' is a reprint.