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Neil Barofsky, the special inspector-general overseeing the US government’s financial rescue efforts, is to probe allegations of insider trading among bank executives and their associates.
He has launched 77 criminal and civil investigations into insider trading and other possible slimy dealings by the bankers after the TARP bailout. Also, the Fed refused to turn over documents to him that later surfaced in the congressional investigation. He wants to know why. So far, a few arrests have been made, with large-scale investigations in process.
Barofsky can launch investigations, but the prosecution is through DoJ. If the fix is in and they want to kill investigations, that’s where it will come from. Barofsky is the real deal, and deserves our complete support. As Eliot Spitzer says in the video, Barofsky is a hero.
Video Tip. The Big Picture