TARP Cop: Some Bailout Goals Still Unmet

[Zoom-boing]

If the basic problems are not addressed an corrected, wth is the point of it all??

Neil Barofsky, the Special Inspector General of the Troubled Asset Relief Program, says policymakers still have not addressed fundamental problems that triggered the financial crisis

The government’s top bailout cop said Sunday that more than a year after the financial crisis hit, many of the goals of Washington’s $700 billion bank rescue program remain unmet and that policymakers still have not addressed fundamental problems that triggered the crisis, leaving the financial system vulnerable to another collapse.

In a 224-page quarterly report to Congress, Neil Barofsky, the Special Inspector General of the Troubled Asset Relief Program (TARP: undefined, undefined, undefined%), acknowledged that TARP had stabilized the financial system. But he said that it has so far failed to restore consumer and business lending and to significantly prevent home foreclosure.

And in a slap at Congress and the Obama Administration, Barofsky said that “it is hard to see how any of the fundamental problems in the system have been addressed to date.”

Rest of story here:

FOXNews.com - TARP Cop: Some Bailout Goals Still Unmet