Neil Barofsky

The U.S. government's bailout has been less than effective in helping U.S. homeowners avoid foreclosure and could end up costing more than expected, according to a report from the Troubled Asset Relief Program's special inspector general.

New York Attorney General Andrew Cuomo filed a lawsuit accusing Former Bank of America CEO Kenneth Lewis of misleading investors about Merrill Lynch's mounting losses before Bank of America acquired the firm in late 2008. The bank and its former chief financial officer, Joseph L. Price, were also charged.

Neil Barofsky has begun the process of reviewing the Fed's role in the AIG bailout.

Tired of TARP? It doesn't sound like it's going away just yet. The Treasury Secretary gave Congress a strong signal that the $700 billion bailout fund will survive beyond its initial expiration date on Dec. 31. The government "is actually close to the point" where the program can end, but not there yet.

It was an unfortunate acronym to begin with for the troubled asset relief program -- TARP -- suggesting as it does something you use to cover up an ugly mess. Now here we stand a year later and what started as a gigantic $700 billion bank bailout has ballooned into a $3 trillion behemoth covering...

It is bad enough that most people in the U.S. now know that TARP stands for Troubled Asset Relief Program. Of course, TARP has not really relieved anyone of their troubled assets but it has paid for billions in bonuses and precious few loans. But that has not stopped the U.S. from creating an even...

According to a government report, Americans are more exposed to potential losses and the government is more vulnerable to being ripped off thanks to the way the bank bailout has been structured. In fact, Inspector General Neil Barofsky is rather blunt about the Troubled Asset Relief Program (TARP),...