Neal Barofsky couldn’t get a word in edgewise this morning on CNBC as Becky Quick and Steve Liesman cut him off repeatedly. Barofsky won’t have that problem at The Big Picture Conference on October 10, 2012 in New York where he’ll have plenty of time to make the point he eventually got across in the clip above and in his book, Bailout, that TARP failed by design and execution to meet the stated goals upon which it was passed.
Wall Street seems to think this criticism means Barofsky would have preferred to see the banking system go down in flames. Nothing could be further from the truth. But, as he explains, the housing market remains a central impediment to a broader economic recovery.