Ask The Man Who Knows- Barofsky Thinks “It’s Unrealistic…We’re Going to Get All That Money Back…”

10-21-2009 • Zero Hedge

Neil Barofsky is a "Czar" (well, isn't everyone these days?) who watches over the $700 billion bailout package given to banks and others to avoid utter collapse; and in a report fully disclosed later today, thinks it’s not realistic that we’ll get all the money back.

The Treasury has spent in excess of $450 billion through TARP programs, and just a few under fifty recipients have paid back about $73 billion worth.

Later today, Obama is expected to announce a community bank assistance plan, as the American Bankers’ Association has asked for some $5 billion in aid, in an effort to extend lending to Main Street.

Also on Zero Hedge today...

Goldman Sachs anti-communist pearls of wisdom: "pay inequality helps everyone" [while directed corporate communist bailouts of Goldman help just Goldman] (Bloomberg) Wells Fargo reports better earnings on FDIC/Wachovia generosity (Bloomberg) What, no multi-trillion record principal revenue? Morgan Stanley beats estimates on higher investment banking fees (Bloomberg) Euro at $1.50 - a disaster or an alibi? (Reuters) Boeing reports $1.6 billion loss because of delays (NYT) Our subprime federal government (City)