3 posts tagged with financialcrisis by shivohum.
Displaying 1 through 3 of 3.
The American people “should be enraged by the broken promises to Main Street and the unending protection of Wall Street” writes Neil Barofsky, former Inspector General of the Troubled Asset Relief Program in his new book, Bailout, about his time in that office. His trenchant criticisms of Washington egos, moneyed interests, and political games has some calling him an "idealistic alien" and others vehemently defending him. Treasury Secretary Timothy Geithner comes off particularly poorly in Bailout, unsurprising in light of his well-known feud with Barofsky over the efficacy of the bailouts. (previously)
Paul Krugman attacked professional macroeconomists (previously). John Cochrane, an economist at the University of Chicago, returns the favor, arguing that Krugman deeply misrepresents current economic ideas because he's abandoned economics as a "quest for understanding" in favor of trying to be the "Rush Limbaugh of the Left."
The Congressional Oversight Panel, headed by Harvard Law professor Elizabeth Warren, notes in its third monthly report that for every $100 Treasury spent on its ten largest TARP deals, it received back only $66 worth of assets -- significantly less than for roughly comparable private parties.