The Daily Muck | Talking Points Memo

Neil Barofsky, the special inspector-general assigned to oversee the deployment of TARP funds, will begin to investigate more forcefully whether banks manipulated their books to receive more government assistance. Barofsky told the Financial Times, “I hope we don’t find a single bank that’s cooked their books to try to get money but I don’t think that’s going to be the case.” At a congressional hearing earlier this month, Barofsky said that his office was involved in up to a dozen investigations into potential wrongdoing. He told the Financial Times that the system for deploying bailout funds was easily manipulated. “Indictments can serve as great deterrents,” he said. (Financial Times)Deputy U.S. Marshall John Ambrose will be tried for allegedly informing Chicago mobsters about the information that one of their members provided to prosecutors. Ambrose is accused with stealing information related to Nicholas Calabrese, a key witness in Chicago’s 2007 “Family Secrets” trial targeting top mob officials, and giving the information to John “No Nose” DiFronzo, a reported mob boss. Chicago mob expert John Binder said that the police department will “see this as the worst sort of treachery.” If convicted, Ambrose will face years in prison. (AP)


This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=143895