Sigtarp: “Americans Should Lose Faith In Their Government ... Only With This Appropriate and Justified Rage Can We Hope

George Washington's picture

The Special Inspector General for Tarp Issues a Wakeup Call … Lambasts the Government and the Banks

The government’s special inspector general in charge of oversight of the Troubled Asset Relief Program (the “TARP” bank bailouts) – Neil M. Barofsky – wrote a stunning editorial for Bloomberg yesterday, concluding:

Americans should lose faith in their government. They should deplore the captured politicians and regulators who distributed tax dollars to the banks without insisting that they be accountable. The American people should be revolted by a financial system that rewards failure and protects those who drove it to the point of collapse and will undoubtedly do so again.


Only with this appropriate and justified rage can we hope for the type of reform that will one day break our system free from the corrupting grasp of the megabanks.

See this for background.

This is not the statement of a raving blogger (although some of the best reporters write blogs) or a conspiracy theorist living in his mom’s basement (even though some conspiracies are real).

This is the former government official who oversaw the bailouts.


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Joe A's picture

I wish you luck. Be aware that governments do not like that people live off the grid. Because they then can't control them with taxes and food regulation. Important it is indeed to have plenty of good neighbours cause united you are stronger. What politicians fear the most are organised groups of individuals, that is why they try to keep people numb with television and consumption.

logicalman's picture

I do most of the above, but I do not vote in elections.

Vote with your wallet, it's the only vote that really counts.

Choose not to take part in the madness, as far as you can.


Bringin It's picture

If you are self-sufficient, you don't need [much] income.  If you have no [not much] income, you don't need to pay income taxes.\

Read 'On Walden Pond'.

Starve the beast is what we have to do. 

It is not a tragedy to willingly change your life now.

The alternative might be changing your life unwillingly, under duress and with little time to prepare.

1Inthebeginning's picture

Exactly right.  Get ahead of the curve.  Make the change now.  Its a lot more do able than I initially thought.

I am on to you's picture

Wise words´,starve the system to death,and its should go world wide,Dont vote for the Mafia Politicians.

Right by your side,in mind,though far away,counted in Kilometers!

Ineverslice's picture

...walk, run and bike everywhere (without a phone or gadget).

logicalman's picture

I do.

No TV since 1999

Never owned a cell phone.

stopped driving a car 2 years ago.

no credit card.

some (not enough) PM carefully stashed.

physically fit - 57 but can burn my 17 year old on a bike ride.

eat well - get enough sleep.

Can fix most anything that can be fixed.

Food stored.


I hope that's enough.

Fox-Scully's picture

Sounds good, but I hope you also have friends, because regardless of what you think, you cannot survive alone.

CompassionateFascist's picture

You left out the M1A: needed to deal with the local un-prepped libs who, 48 hours after System Collapse, will be out in feral mobs looking to "liquidate the hoarders". And after them comes the Golden Horde....

Ace Ventura's picture

Good call. I'd add a nice 12-gauge for those libtardial zombies which manage to get close enough.

logicalman's picture

Any American (or any other nationality) who doesn't already know this has to be in willful denial.

The corruption and fraud that pervades the political, judicial and financial systems of the world are only slightly less noticable than a punch in the mouth.

Those who are still asleep are going to stay that way.

Unfortunately, the people who are awake stand a better than even chance of being swept away in the river of idiots once things go tits up.

I like to think of myself as an optimist!

Ned Zeppelin's picture

Almost all Americans are asleep, are you kidding me. 

TrulyStupid's picture

All Americans and Westerners are complicit in this shit.. It started with the Reagan revolution and the mostly passive aquiescence to the subsequent neo-con agenda. If you want to fix the blame.. look no further than the nearest mirror. If you want to fix the problems consider the libertarian movement.

Ace Ventura's picture

It started LONG before Reagan. Try December 1913 as the quasi-official start of the long, bumpy downward spiral.

NotApplicable's picture

Mr. Aldrich, I presume?

He's leavin'


On that midnight train to Georgia

Leavin' on that midnight train. WOO! WOO!

Said he's going back to find

One system to enslave mankind

1Inthebeginning's picture

Correct.  Most Americans think of post WWII prosperity as the norm and haven't figured out that things have changed.  Or they are being paid off on the public dole through transfer payments or a government job.  The last 30 years have been a bubble and the government is running out of money. More people are waking up. Hungry people wake up fast.  

The problem is that societal chaos will be used to justify broader government regulation.  The smartest investment advice would be to climb the government corprotocracy hierarchy.  Alternatively, a highly improbable path would be to have the middle class wake up and start doing for itself.  America is a special place.  America deserves a better future.




groundedkiwi's picture

america was a special place. no taxes at all, but then some boats were seen on the horizon. 

Skateboarder's picture

You only deserve what you earn.

Aquarius's picture

THe Government which inc;ludes the Bureaucracy has been fully captured: There is nothing new here at all. L von Mises Planned Chaos = Bureaucracy - Bastiat -The Rise and Fall of Society Frank Chordorov Hayek et al have written about it in detail from first hand experience: The October Revolution, Maxxean Socialism, Communism, Socialism, Fascism Mussulini, The Bolshevics; Lenin, Trotsky , Stalin; this type of governing policy only works if you kill half your population.

Trotsky disagreed with Stalin on one Point which was Trotsky believe that Trotsky should have been the Boss. Stalin won by murdering all the opposition including Trotsky.

You Americans have this to look forward to unless you educate yourselves and take back your "democracy" by peaceful insistence.

The US is rapidly moving towards a "necon" = Bolshevic = Trotsky - Fascist - Socialist - Stalinist - Marxist Socialist diktat which will have to also murder half of you. Why? Because all forms of Socialism are the same and only variants and reuire exactly the same methods which is mudering half the citizens.

All these Socialists are blood lusting wanbee leaders. Do you American's want to end up like Stalin's Russia?

same old story's picture

curious, where do you live?  utopia.

WALLST8MY8BALL's picture

aMErican's should be pissed but hey, America's Got Talent!

Voluntary Exchange's picture

I propose we model our new system on voluntary exchange instead of the coercion and theft that the US constitution establishes with "Congress shall have power to lay and collect taxes ..." (Art 1, sec 8)


Let's use voluntary surety and assurance rather statist aggression and  taxation ---


"Institutional Bases of the Spontaneous Order: Surety and Assurance" by Albert Loan


Obliterating Statist Myths Episode One: Anarchic vs. Statist Law and Justice (Part 1 of 5)




NotApplicable's picture

I like your avatar. I'd slow down the speed of it though.

Chuck Walla's picture

Americans would actually have to know somethng about their government, the crooks who populate it and the current liar that "leads" it....  Oh, and know something about their money and banks.


Sadly, I will see you all on the other side. Forward Soviet!

Pinto Currency's picture


Another insider who contributed to our demise speaking out against his organization.

Await Larry Summers and Robert Rubin's joint and outraged editorial against rigging of the gold market.

steelhead23's picture

That is a singularly unfair characterization of Mr. Barofsky.  Do you not realize that both this editorial and his book virtually ends his career within the current system?  In his book he names the individuals who did the giveaways without oversight, who looked the other way, who refused to prosecute crimes.  No criminal will ever trust him again - which of course means, he's done in government and banking.

NotApplicable's picture

So his character goes from bankster to reform champion? Big deal, it's in the script.

Sounds like a promotion to me, given the shake-up that's coming to all levels of government.

David Walker isn't doing too badly these days. He's one of the G-30. Maybe Barofsky is to be his ideological replacement?

Remember, they gotta shiny up the facade every now and then, otherwise the tarnish becomes too obvious to all.


roadhazard's picture

we need a lot more confessions.

engineertheeconomy's picture

Let's hope the revolution starts sooner rather than later, and when it does lets hope the job gets done right and every last one of the evil sons of bitches gets whats comin to em

1Inthebeginning's picture

Your a smart person.  But, a revolution will put even worse people at the top of the pyramid.  Ex: Cuba, Soviet Union.  Its either people wake up and change their consumer behavior, or things will disintegrate into totalitarianism.  The "evil" that we need to get rid of resides in us.

Freddie's picture

"Change their consumer behavior..."  Do you watch TV and support Hollywood?  If so you support the system like a serf.

Vic Vinegar's picture

The evil resides in us?  Get that poison out of your system 1Itb!

1Inthebeginning's picture

Sure.  Its always easier to project your shadow self on to others and then blame them.  Most of the people that I talk to seem very unaware.  Nothing is going to change until we change how we behave.  If we want to affect TPTB, the only way to do it is to change ourselves.

Your opponents are very intelligent and very psychologically sophisticated.  But they are also unwise.  C'mon push to get better.  Again, the turning of the tide is paper thin and within arms reach.  All we need is to put disposable income into consumerism that promotes our freedom.

yshua bless

Vic Vinegar's picture

It's OK if you junked me - it was a bit of a troll, but you set it up t-ball-style.  But I digress.

Looking at what you just wrote, I wonder: what does that mean for me?  What should I do about it?

And let's give you the benefit of the doubt...there was a typo here, right?  C'mon buddy - I believe in you!

All we need is to put disposable income into consumerism that promotes our freedom.

NotApplicable's picture

Good ole George, still peddling Hopium, only now it's scented with justified rage.