Neil M. Barofsky

Big Obama Donor 'Investigated' DOE Loan Program

Herbert Allison

When is a government watchdog not really a watchdog?

When he rolls over and lays at the feet of his master rather than sink his teeth into a program that he’s been tasked to guard.

Such appears to be the (unsurprising) case with Herbert Allison, Jr. (pictured), a former Wall Street executive (Merrill Lynch and TIAA-CREF) until he was appointed president and CEO of Fannie Mae in 2008, after it was put into conservatorship. Subsequently President Obama named (and the Senate confirmed) him as overseer of the Troubled Asset Relief Program (TARP), the $700 billion asset acquisition fund that bailed out Wall Street financial institutions. He served in that role for about 15 months, until September 2010.

TARP Inspector General Asked to Investigate Citigroup and Bank of America Donations to Rainbow/PUSH

Today the National Legal and Policy Center (NLPC) asked Neil M. Barofsky, the Special Inspector General for the Troubled Asset Relief Program (TARP), for a formal review of the sponsorship by Bank of America and Citigroup of the Rainbow/PUSH Wall Street Conference currently taking place in New York City. The January 13-16 event is one of two of Jesse Jackson’s annual fundraisers.

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