QOTD: Barofsky on TARP

March 19, 2012 2:33pm by Barry Ritholtz

Our quote of the day comes from the former Special Inspector General for TARP from 2008 until early 2011:

“Essentially, TARP successfully stabilized markets and helped prevent another Great Depression, but it failed horrifically in meeting its equally important Main Street goals—including preserving home–ownership—and institutionalized Too Big to Fail and the moral hazard that accompanies it.”

-Neil Barofsky, New York University law professor.

WSJ, March 19, 2012, U.S. Made Profit on Mortgage Debt (if we exclude the losses)

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