Neil Barofsky, the former Special Inspector General of the Troubled Assets Relief Program (more briefly: SIGTARP), recently released a book called Bailout: An Inside Account of How Washington Abondoned Main Street While Rescuing Wall Street. Needless to say, it’s a pretty scathing indictment of our political leadership as it relates to the big banks.
Barofsky is currently answering questions from readers on Gawker’s new commenting system, Kinja. It’s anything but encouraging. Barofsky believes our government is corrupt to the core and there is no difference between the Republicans and Democrats, at least as far as regulatory matters are concerned.
Reader: Every other question is going to boil down to this, so may as well ask it flat out: Who are the bigger villains in this scandal, Democrats or Republicans?
Barofsky: “When it comes down to the core matter of fighting for and preserving a status quo that maintains the political and economic dominance of the TBTF banks, there is little difference between the two. There are some on both sides of the aisle who are appalled by it, but those running the show have both fought tooth and nail to preserve power. The only substantive difference that I saw between Bush and Obama with respect to what I was doing was one of style, not substance.”
Go to Gawker for this, and more.