TARP damaging trust
TARP damaging trust

More evidence of the destruction the cultural intangibles that made the US wealthy:

“When Treasury refuses for more than a year to require TARP recipients to account for the use of TARP funds, or claims that Capital Purchase Program participants were “healthy, viable” institutions knowing full well that some are not, or when it provides hundreds of billions of dollars in TARP assistance to institutions, and then relies on those same institutions to self-report any violations of their obligations to TARP, it damages the public’s trust to a degree that is difficult to repair.”

Extract from TARP’s special inspector general, Neil Barofsky cited in the Washington Examiner.

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