Bailout Fraud: Not Entirely A Shocker, But Still

by
Abby Zimet

In the first major though unsurprising disclosure of
corruption in the $750-billion bailout program, federal
investigators say they have opened 20 criminal probes into
possible fraud, insider trading and other
crimes. Neil Barofsky, special inspector general overseeing the hastily assembled TARP plan, called it "inherently vulnerable to fraud, waste and abuse" and said that as the plan becomes more complex, there could be many more cases.

"That's an appalling record," said Barbara Roper, director of investor
protection for the Consumer Federation of America. "In the midst of this crisis from which they
are being bailed out, the same people who created this mess are
apparently still breaking the law. What is it with these people?"

This is the world we live in. This is the world we cover.

Because of people like you, another world is possible. There are many battles to be won, but we will battle them together—all of us. Common Dreams is not your normal news site. We don't survive on clicks. We don't want advertising dollars. We want the world to be a better place. But we can't do it alone. It doesn't work that way. We need you. If you can help today—because every gift of every size matters—please do. Without Your Support We Simply Don't Exist.

Please select a donation method:



Share This Article

More in: