Thursday, October 22, 2009
Barofsky: "Absent Meaningful Regulatory Reform, Tarp Runs the Risk of Merely Reanimating Markets That Had Collapsed [Due To] Reckless Behavior"
TARP Inspector General Neil Barofsky says in a new report that TARP has allowed the too big to fails to get even bigger, and that:
Absent meaningful regulatory reform, TARP runs the risk of merely reanimating markets that had collapsed under the weight of reckless behavior.TARP . . . reanimating not only zombie banks, but also zombie markets.