TARP Inspector General: TARP was a Failure

Neil Barofsky is not my favorite guy in the world. His principal beef seems to be that more stimulus didn’t make its way to Main Street. I think “stimulus” was and is a bad idea.

But this video is worth watching because at least he says it like many of us know that it is. Treasury doesn’t give a damn about anyone but the banks on the Street.

It’s also worth watching to see the Squawk Box Dobermans snapping at Barofsky because he dares question the wisdom of TARP. TARP is what kept the world from imploding after all. Their world. The CNBC world.

Given that GE (the parent company of CNBC) was a huge beneficiary of government (taxpayer funded) largess in 2008 I suppose we should expect nothing less from this crowd.

And I love how Steve Liesman condescendingly speaks to anyone who questions the actions of the Fed or Treasury. He’s always been a Keyensian shill, but he has just gotten worse and worse over the years. I’ll bet interning for him is a joy.