Gulag Blog

Barofsky says TARP ‘Almost Certainly’ Will Bring Losses to US Taxpayer

Stacy Summary:  Fraud is the system.

• Barofsky says US taxpayers will almost certainly lose billions on TARP

“When I first took office, I can’t tell you how many times I’d be having a sit-down and warning about potential fraud in the program and I would hear a response basically saying, ‘Oh, they’re bankers, and they wouldn’t put their reputations at risk by committing fraud,’” he said.

Tags: barofsky, fraud, TARP

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