THE COMMITTEE OF BANK APOLOGISTS SHALL COME TO ORDER:

Category: Bailouts, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

25 Responses to “Barofsky: TARP Was a Failure”

  1. hawks5999 says:

    In other news, a similar analysis: Sun rises in the east

  2. dustbowl daze says:

    OMFG those people are such morons. No wonder no one watches this channel anymore.

  3. Frilton Miedman says:

    I’m just waiting for the first comment of “Another example of Obama’s failed policies”.

    Barofsky is right, TARP failed in it’s intended purpose to save homeowners, it was used to save the banks instead.

  4. Lee Adler says:

    They are a disgrace. Haven’t watched in 9+ years. Barofsky Likens CNBC to WWE http://wp.me/p2r1d8-tDo

  5. MTstiles says:

    I cancelled cable a year ago and my mind has never been clearer. I recommend it to all people who are sick of politics (both left and right). It is nice to see that things haven’t changed and that I’m not missing anything.

  6. tradeking13 says:

    CNBC is a failure.

  7. Allocationist says:

    After it became clear that CNBC is obviously shilling for the ultra-wealthy, big banks and right-wing extremists I shifted to Bloomberg. Joe Kernen is now so obsessed with defeating Obama I heard CNBC is sending him to anger management counseling. Of course I miss Tuesday’s great insights from “The Donald” (haha). It does get kind of funny watching all the rich guys (how many jobs has Romney created each year with his $20,000,000+ income?) whining about having to pay more taxes (less than under Reagan). It is refreshing to see both sides of most issues on Bloomberg.

    At least Faux News is up front about their biases.

  8. MikeDonnelly says:

    So…. Barofsky is a member of Occupy Wall Street ? That is the only conclusion that makes sense, those folks believe TARP helped the banks but did not help Main Street.

  9. edgjii says:

    CNBC has become the “USA Today” of financial news. In an attempt to cram in as many commercials as possible, they have lost most if not all credibility. In addition to “Big Picture” I have immersed myself in Bloomberg Radio and late night Bloomberg TV which spends a lot of time on topic. I would love to see a debate like format between the hosts of CNBC and Bloomberg Radio’s Tom Keene and Ken Prewitt on the topic of TARP – let the games begin!

  10. streeteye says:

    carnival barkers…unwatchable.

  11. gordo365 says:

    Hey at least when Matt Lauer interviewed Nicki Minaj on Today show – he let her answer questions he asked. I guess Today show is setting the bar for CNBC…

  12. bear_in_mind says:

    I dunno if anyone else shares this view, but seems to me the CNBC has been lost and rudderless since the untimely passing of Mark Haines. He (and Mr. Art Cashin) provided some welcome levity and dignity to the proceedings.

  13. end game says:

    Those questioning TARP have absolutely no idea how important confidence is to capitalism. Our economy would be dust were it not for TARP.

    Re: CNBC, it has been a mouthpiece of the RNC ever since 2008 when a certain non-white president was elected. Larry Kudlow has blamed Obama for everything from Hiroshima to herpes, and he simply won’t shut up about how a 0.01% additional tax cut would cause employment to positively skyrocket. I agree that Bloomberg is balanced and intelligent. CNBC: is Netflix a buy or a sell? Bloomberg: impact of QE2 on global markets. There’s no contest.

  14. ElSid says:

    “Let me finish my question.” LOL. What a bunch of scumbags.

    The fact that these people are so desperate to take him down is proof that he’s on point. “…Prevent them from taking over the entire capitalist system”? Are you kidding me? We should have taken over the entire capitalist system. We did, though: just ask anyone, and they’ll tell you the entire capitalist system runs through Fannie and Freddie.

    The banks had to hold on to more money than they thought as it was worse than they thought? Pretty much the most pathetic excuses for ideas and opinions spewing forth since I saw some Fox talking heads railing against The Beatles for allegedly being hypocrites because they would have personal disagreements even though they were proponents of peace. (Unbelievable, right? If you’ve ever gotten a divorce, you can’t be for world peace.)

    Dig MTstiles’ comment. I haven’t had a TV in years. Stupid things. Also, Bloomberg is reasonable, and I love Art Cashin.

  15. ElSid says:

    And, end game: You weren’t listening to what Barofsky was saying. I was for TARP and all that back then, but now I wish we had never done it. All they did was prop up a system where the rich and the connected idiots always win. We should have taken over all of the banks, and fired Dimon, GS, and all the gang, just like we did Freddie and Fannie, and had a RT Corp for the whole damned mess. Capitalism didn’t lose ENOUGH confidence. Anyway, it doesn’t matter, because, as Barofsky closes this video saying, we’ll have to do it again soon.

  16. [...] – Neal Barofsky on why TARP was a failure. [...]

  17. [...] is much better than what we saw from the Committee of Bank Apologists here [...]

  18. royrun99 says:

    I finally stopped watching when a leader of a major bank made the comment that the financial crisis was just a matter of perfect storm of events for which no one was really responsible . The response from the assembled Squawk Box “journalists” was essentially “Yep” Yep”. I am disappointed that Sorkin stays with this bunch

  19. artie520 says:

    Watch how the Barofsky interview could have & should have have been conducted. CNBC ‘s pancaked know nothings could take lessons from the hosts of Canada’s’ BNN TV, the true professionals in this instance with CNBC’s highly overrated personalities ( mho) looking like rank amateurs in comparison.. Watch the difference below, it’s amazing:
    http://watch.bnn.ca/market-sense/august-2012/market-sense-august-2-2012/#clip733184

    P.S. This is just another example of CNBC resorting to it’s occasional policy of giving it’s viewing audience the “mushroom treatment” (keep ‘em in the dark & feed ‘em bull caca)Again, all just mho.

  20. formerlawyer says:

    @artie520 Says:

    Wow. Just wow. I can see how the BP Conference will be interesting.

  21. [...] General for the Troubled Asset Relief Program (TARP) Neil Barofsky, in a contentious interview on CNBC, when asked whether the bailout program was successful. [...]

  22. chris says:

    Becky Quick and Steve Liesman ARE IDIOTS. They must know someone to keep their jobs What would Mark Haines say?

  23. oldbluejeans says:

    CNBC, the folks who didn’t see this mess coming, the folks who shouted down, or laughed at anyone who said it would come, have completely perfected this technique: “Ask a question, if you like the answer as it comes, let the person go . . . if you don’t like the answer, interrupt right away. If you can get 4 or 5 people all yammering at the same time – - so much the better.

    CNBC thinks they can “out fox FOX”, and try as they might they just can’t, no matter how idiotic they appear in their attempts.

  24. victor says:

    “What we did, we took over the bank, nationalized it, fired the management, took out the bad assets and put a good bank back in the system”: Bill Seidman, died May 13, 2009 (aged 88). Instead, GS was put in charge with Hank Paulson at the helm, and W saying “yes, yes”, Oct-2008.