Neil Barofsky Discusses "Incestuous Orgy" Between Washington and Wall Street on Bill Moyers
It was Bill Moyers who used the expression "incestuous orgy" in this interview with former head of SIGTARP Neil Barofsky to describe the relationship between major financial firms and the Federal government. That beats the anodyne ?revolving door? all day and I hope becomes part of the lexicon for describing the capture of Washington by Wall Street.
Barofsky describes not only his experience at SIGTARP in fighting with the Paulson and Geithner Treasuries to oversee the bailout program, but also his reasons for thinking a financial crisis is inevitable.
Read more at http://www.nakedcapitalism.com/2012/10/neil-barofsky-discusses-incestuous-orgy-between-washington-and-wall-street-on-bill-moyers.html#QMrm5QKPFFTLGrZW.99
Between President Obama's ineffectual proposals and Mitt Romney's loving embrace, bankers have little to fear from either administration, and that leaves the rest of America on perilously thin economic ice. Neil Barofsky, who held the thankless job of special inspector general in charge of policing TARP, the bailout's Troubled Asset and Relief Plan, joins Bill to discuss the critical yet unmet need to tackle banking reform and avoid another financial meltdown.
Currently a senior fellow and adjunct professor at the New York University School of Law, Barofsky is the author of Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street.
Published on Oct 26, 2012 by MoyersandCompany