- File Size: 2843 KB
- Print Length: 290 pages
- Publisher: Free Press; Reprint edition (July 24, 2012)
- Publication Date: July 24, 2012
- Sold by: Simon and Schuster Digital Sales Inc
- Language: English
- ASIN: B00818J57W
- Text-to-Speech: Not enabled
- Word Wise: Enabled
- Lending: Not Enabled
- Amazon Best Sellers Rank: #196,083 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
|Print List Price:||$16.00|
Save $4.01 (25%)
Simon and Schuster Digital Sales Inc
Price set by seller.
Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street Kindle Edition
|New from||Used from|
|Length: 290 pages||Word Wise: Enabled||Enhanced Typesetting: Enabled|
|Page Flip: Enabled||
Switch back and forth between reading the Kindle book and listening to the Audible narration with Whispersync for Voice. Add narration for a reduced price of $3.99 when you buy the Kindle book.
Kindle e-ReadersFire TabletsFire Phones
New from Michael Savage
Michael Savage reveals why we have an infected political system, and what we can now do to nurse the country back to health. Learn more
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Customers Who Bought This Item Also Bought
Top Customer Reviews
In "Bailout" Neil Brofsky, who was in a position to know the facts, documents his own 19-month tenure trying to clean up some of the messes created by the much too cozy relationships between Wall Street and government. More importantly he points out that the government is so big that its a bureaucracy within bureaucracies that can't do anything but grow and spend more money. The only real cure would be to take meat clever to the bureacracy and cut it down to a size that might actually be able to serve the citizens of America.
This expose is clearly described and documented in a dozen chapters with titles such as "Fraud 101, Hank Wants to Make It Work, The Lapdog, the Watchdog and the Junkyard Dog, I Won't Lie for You, Drinking the Wall Street Kool-Aid, The worst Thing That happens, We Go Back Home, By Wall Street for Wall Street, Foaming the Runway, The Audacity of Math, The Essential $7,700 Kitchen Assistant, Treasury's Backseat Driver, Happy Endings" and an "afterword, and detailed Notes and Index section. Its easy, but maddening reading.Read more ›
No strings were attached to the money. Top bankers used it to pay record bonuses, among other things. The magnitude of riches bestowed upon these elites stirs the imagination of witnesses such as Barofsky, who can't seem to get over it. It was the largest single transfer of wealth in our nation's history.
This book demonstrates a deep and continuing bias to favor large banks, especially by the Treasury Department. It doesn't matter which party holds the administrative branch. Stated goals of giving money straight to the banks included to get lending going again. Yet nothing was done to tie money freely given to banks to any performance in lending. In large part because of this, foreclosures even now continue unabated and people cannot readily sell their homes yet.
Treasury Secretary Tim Geithner looks really bad in this book. He's basically portrayed as top squeezer of homeowners through concentrated use of deflation. Personally I didn't understand any motive for Geithner to deliberately squeeze families. Rather, I suspect the squeeze had to happen if the big bankers were to maximally benefit at the time. In other words, it seemed to me that homeowners were just in the wrong place and the wrong time, victims of the larger economic-political system.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."
Does Barofsky make himself (and a few others) sound like the only moral people in a cesspool of wickedness? Maybe. Does he sometimes sound like the only guy with a good idea, surrounded by fools blinded by self-interest and politics? Yes, he does. But that shouldn't detract from the value of his observations. He was there, in the middle of it. He quotes chapter and verse, names names and says what they said. There may be some sins of omission in "Bailout" but it's very unlikely that any of its contents are made up out of whole cloth.
(Other reviewers (notably in the NYT) have made much of the fact that TARP never actually cost $700 Billion or $2.37 Trillion or whatever huge number is being tossed around. Barofsky's point is, that much money was put at risk without adequate oversight, never mind whether the risk went bad. My way of summarizing his point: If there were an armed break-in at your house while you were away and though no one was shot, you learned that the baby-sitter had used your young child as a human shield, you wouldn't be...shall we say, incensed?Read more ›
Most Recent Customer Reviews
As usual the book showed up on time, and so far it is shaping up as a great read.Published 4 months ago by Lawton Gore
A good book about the "inside" of Washington DC. We hear so much about what's bad but literally the devil really is in the details and Neil's details are interesting,... Read morePublished 5 months ago by LP.
Does a good job of giving one person's experience in this situation. Good explanations, interested me in looking for others' versions of the events.Published 6 months ago by Bob B.
This is important to read. It gives you a peek at the perversion in government that many suspect but never see.Published 7 months ago by GIP
This was a very informative and entertaining account of the government's bailout during the financial crisis. Read morePublished 11 months ago by Tony
Set up an Amazon Giveaway
What Other Items Do Customers Buy After Viewing This Item?
Look for Similar Items by Category
- Books > Biographies & Memoirs > Historical > United States
- Books > Biographies & Memoirs > Leaders & Notable People > Political
- Books > Business & Money > Economics > Economic History
- Books > Business & Money > Economics > Economic Policy & Development
- Books > Business & Money > Education & Reference
- Books > Business & Money > Processes & Infrastructure > Government & Business
- Books > History > Americas > United States
- Books > Politics & Social Sciences > Politics & Government > Political Science > History & Theory
- Books > Politics & Social Sciences > Politics & Government > Public Affairs & Policy > Economic Policy
- Books > Politics & Social Sciences > Politics & Government > United States > National
- Kindle Store > Kindle eBooks > Biographies & Memoirs > Leaders & Notable People > Political
- Kindle Store > Kindle eBooks > Business & Money > Economics > Economic History
- Kindle Store > Kindle eBooks > Business & Money > Economics > Economic Policy & Development
- Kindle Store > Kindle eBooks > History > Americas > United States > 21st Century
- Kindle Store > Kindle eBooks > Politics & Social Sciences > Politics & Government > Political Science > History & Theory
- Kindle Store > Kindle eBooks > Politics & Social Sciences > Politics & Government > United States > Federal Government