Posts Tagged ‘SIGTARP’

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

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

By The Banker | Book Reviews

If every novel or Hollywood movie starts with either the premise of “A Man Walks Into a Town” or “A Man Goes On a Journey,” Bailout by Neil Barofsky begins with the former.  Neil Barofsky plays the leading Jimmy Stewart hero role in this modern update to Mr. Smith Goes To Washington. In late 2008, [&hellip

SIGTARP, Part IV – What Small Banks Are Going Under Next?

SIGTARP, Part IV – What Small Banks Are Going Under Next?

By The Banker | Blog Posts

Ok, so it’s no secret I’m pretty sweet on SIGTARP, the Norse God of Financial Accountability. There’s the pleasure of calling a fellow US Treasury colleague a liar. There’s the feistiness of a government official pointing out that through our failure to rein in TBTF banks, we’ve laid the groundwork for the next crisis There’s [&hellip

The Citigroup Bailout - SIGTARP Part III

The Citigroup Bailout – SIGTARP Part III

By The Banker | Blog Posts, Wall Street

We love to criticize the wastefulness of bureaucracy, the agency ass-covering, and the naiveté of government officials.  But it’s a surprising pleasure to read[1] The SIGTARP [2]  review of the government’s response to Citigroup’s near-death experience and its bailout in the Fall of 2008. Here we have a US Treasury position created for the purpose [&hellip

In Praise of SIGTARP Part II – We blew it on the repayment of TARP funds by the largest financial institutions

In Praise of SIGTARP Part II – We blew it on the repayment of TARP funds by the largest financial institutions

By The Banker | Blog Posts

See related post In Praise of SIGTARP Part I here We are now at the four year mark on the deepest part of the Great Credit Crunch and Great Recession, so I’m moved to ask: When it comes to avoiding the next financial blowup and bailout we need to ask “Are our bank protections better [&hellip

In Praise of SIGTARP, Part I –Truth in Government

In Praise of SIGTARP, Part I –Truth in Government

By The Banker | Blog Posts

As a recovering banker, a main obsessive question of mine remains “How did we get into this mess?” By “mess,” I mean both the Credit Crunch itself and our collective response to it, at the government and personal levels. My obsession drives me to read reports by the Special Inspector General for the Troubled Asset [&hellip