Bailout cop: TARP’s not working

By doris | Published: February 3, 2010

Full Story at money.cnn.com

NEW YORK (CNNMoney.com) — The watchdog charged with monitoring the government’s $700 billion bailout unleashed one of his harshest criticisms of the program to date, questioning its overall effectiveness.

In his latest quarterly report to Congress, special inspector general Neil Barofsky said that the Troubled Asset Relief Program, or TARP, has failed to boost bank lending as well as halt the spread of foreclosures — two key aims of the sprawling program.

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