TITLE

Gov't watchdog criticizes handling of car dealers

AUTHOR(S)
Thomas, Ken
PUB. DATE
August 2010
SOURCE
Knoxville Automotive Report;Aug2010, Vol. 20 Issue 11, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the criticism by Neil Barofsky, special inspector general for the Troubled Asset Relief Program (TARP), regarding the U.S. Treasury Department's decision to shut down many car dealerships without considering the economic fallout. Barofsky states that the agency fails to show why the reduction of costs was necessary for the sake of the economic survival of car companies or the country's economic recovery. He also comments that the agency's decision resulted in unemployment.
ACCESSION #
52729324

 

Related Articles

  • A Watchdog With Some Bite. Hightower, Jim // Progressive Populist;5/1/2009, Vol. 15 Issue 8, p3 

    The article reports on the revelation made by U.S. Special Inspector General Neil Barofsky concerning the bailout fraud carried out by banks in the country. Barofsky has been monitoring the fraud involved in the $700 billion bailout given by the government to banks. It reveals that Barofsky's...

  • False profits. Beito, David // Liberty (08941408);Jan/Feb2010, Vol. 24 Issue 1, p9 

    The author expresses his views on the Republican and Democratic bailouts. He notes that the popular rationalization surrounding the bailouts suggests temporary losses to the taxpayers but Neil Barofsky of the U.S. Treasury Department's TARP program revealed that the taxpayers will extremely...

  • Eye on the Bailout: TARP Watchdog Launches Audit of Bailout Contracts. Kiel, Paul // Pro Publica;2/ 7/2010, p4 

    The article presents information on an audit launched by the U.S. Troubled Asset Relief Program (TARP) for bailout contracts. Started by the special inspector general of TARP Neil Barofsky, the program will check whether the U.S. Treasury Deparment has been billed fairly for TARP funds contracts...

  • U.S. Bailouts Could Cost $23.7 Trillion, Inspector General Says.  // New American (08856540);8/17/2009, Vol. 25 Issue 17, p6 

    The article reports on the perception of Special Inspector General of the Troubled Asset Relief Program (TARP) Neil Barofsky that TARP and other U.S. government bailout programs could cost 23.7 billion dollars in 2009. He also projected that its entire gross domestic product will only be 14.1...

  • From Flips to Flops. Berry, Kate; Hochstein, Marc // American Banker;4/22/2010, Vol. 175 Issue 62, p6 

    The article discusses a quarterly report issued in 2010 to the U.S. Congress by Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, in which Barofsky urged the U.S. Treasury Department to increase appraisal requirements for the U.S. government's Home Affordable...

  • Will Government Give up Ownership in the Banks? Jeffrey, Terence P. // Human Events;11/3/2008, Vol. 64 Issue 38, p9 

    The author considers the potential unintended consequences of the action being taken by the U.S. government to purchase $250 billion worth of shares in U.S. banks. One possibility he cited is that government holds the banks indefinitely. He explains that the language controlling what the...

  • Time for Permanent Nationalization! Moseley, Fred // Dollars & Sense;Mar/Apr2009, Issue 281, p19 

    The author suggests the nationalization of large banks in the U.S. He points out that the bailout of major banks by the Treasury Department is an economic injustice that should be stopped by permanent nationalization. He cites that the capitalist financial system is unstable. He recommends...

  • THE TURF WAR OVER WALL STREET. VICTOR, KIRK // Governing;Dec2012, Vol. 26 Issue 3, p36 

    The article reports on the tussle between states and federal agencies in the U.S. to combat financial fraud. Special inspector general for the Troubled Asset Relief Program Neil Barofsky fought with top government officials over his efforts to prevent fraud and require more transparency in the...

  • Treasury Presses AIG on Exec Payments.  // American Banker;10/14/2009, Vol. 174 Issue 188, p16 

    The article reports that U.S. Treasury Department official Kenneth Feinberg has told American International Group Inc. (AIG) that it should reduce $198 million in retention compensation it plans to give employees. Treasury is also trying to recover $45 million in such payments AIG has already...

Share

Other Topics