MI Senior Fellow Nicole Gelinas interviewed Neil M. Barofsky about his experience as Special Inspector General for the Troubled Asset Relief Program (TARP) as described in Barofsky’s new book, Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street. The two challenged each other at the February 6th Young Leaders Circle event about the nuanced policy reforms that are still needed to eliminate the threat of "too big to fail" from our financial system—a phenomenon which both agree continues to exist despite reforms implemented by the Dodd–Frank Wall Street reform law.
Neil M. Barofsky is an Adjunct Professor of Law and Senior Research Fellow at the NYU School of Law. Previously, he was nominated by President George W. Bush for the job of overseeing TARP as the United States Department of Treasury Special Inspector General from 2008 until his resignation in March 2011. He is also a former Assistant United States Attorney for the Southern District of New York (2000–2008). Nicole Gelinas, a senior fellow at MI, is a Chartered Financial Analyst charterholder and contributing editor of City Journal, the Institute’s quarterly policy magazine.