Tuesday, July 21, 2009

Terrible TARP

When I invest my money understanding where it is is vital to understand risk. If a broker doesn't answer my questions I sell and move my funds elsewhere. I wish we could do that with the TARP funds.

Wall Street Journal article this afternoon states:

While Mr. Barofsky [TARP Special Inspector General] said the Treasury has generally been cooperative, one issue could be communication between Mr. Barofsky and Treasury Secretary Timothy Geithner. Asked Tuesday when he last spoke to Mr. Geithner, Mr. Barofsky acknowledged that their last conversation occurred in January, just a "couple of minutes before a larger meeting."

This is a bad way to invest. The administration that campaigned on transparency needs to fix this problem. Sphere: Related Content

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