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Orange Satan - bobswern - Stunning Barofsky NYT Op-Ed: Geithner Mismanaged TARP, May Have Damaged Entire Gov't's Credibility

Today is TARP (Troubled Asset Relief Program) Inspector General Neil Barofsky's final day in office. He's going out with one hell of a bang in an op-ed in Wednesday's NY Times, saying many things many people in this community--including yours truly--have been saying for years. Interesting thing is, IMHO, many other folks that are highly respected among those in the Democratic wing of the Democratic Party are also a part of this chorus nowadays.

You'd think the folks in D.C. would get a clue; but don't hold your breath.  To those in power, it's all about the spin. (See further down below for more on this.) Having spent most of my adult life working in and around the media/media technology and communications industries (in the corporate sector as well as doing professional gigs for more than 25 Democratic candidates and officeholders, from city council races to national campaigns), I can tell you, having seen it play out on countless occasions, when spin crosses the line of credibility one too many times, it's all downhill from there.

Barofsky's last couple of paragraphs (if you haven't used up your 20 "free" monthly article views in the first 36 hours since the NYT switched over to pay-per-view, you really should checkout the whole piece) are immediately below.;-

Haven't read the article yet. Maybe one of the economic gurus should do an informed LQD on it. I can help if someone can't access it.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Wed Mar 30th, 2011 at 10:58:32 AM EST
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