Is This The Worst Corruption And Cronism Since Teapot Dome?
http://market-ticker.denninger.net/archi… Corruption is a strong word, but it appears warranted given the two stories of import this weekend. First, on the firing of inspectors general: WASHINGTON – — He was appointed with fanfare as the public watchdog over the government’s multi-billion dollar bailout of the nation’s financial system. But now Neil Barofsky is embroiled in a dispute with the Obama administration that delayed one recent inquiry and sparked questions about his ability to freely investigate. Treasury, you see, is refusing to turn over documents – items that Barofsky believes he needs to do his job properly. Mr. Barofsky’s job is, for those of you who need a refresher, to investigate potential fraud and abuse in the TARP program. One would think that Treasury would be very interested in the integrity of that program, and submit without quarrel to any inquiry by the OIG’s office, which was incidentally set up for the specific purpose of “watchdogging” the program itself. I
