Book Review: "Bailout" by Barofsky

Barofsky has a unique perspective on what unfolded in the series of bailouts following the 2008 economic meltdown. He had the responsibility for overseeing the disbursement of an unprecedented amount of money at a phenomenal velocity. In this extraordinarily readable memoir, Barofsky explains some of the roots of the financial collapse and doesn't hesitate to call out powerful interests for their part in destabilizing the financial system.

Given the urgency of the situation and the speed of the response, it would have been impossible for anyone to prevent fraud. And fraud did occur, as Barofsky points out in this book. But with all the handicaps Barofsky's team faced, they did a remarkable job keeping the bailout as clean as they did.

Barofsky also points out the importance of reform in our financial institutions, how little has been done, and the role that money played in influencing the lack of response. His criticism is on point when pointing out the weaknesses in our financial infrastructure. And since the "too big to fail" companies have continued to grow larger while engaging in the same risky behavior as before, we will be condemned to repeat our recent history again.

Don Young is a Bigoted Pinhead

Every now and again, a politician lets his mask slip. Then you get a glimpse of what really lives under the carefully presented public image.

Alaska Representative Don Young's latest gaffe included his referring to hispanic migrant workers as "wetbacks."

He assures us that he "meant no disrespect" and explains that this was a term in common use when he was growing up.

It turns out that when I grew up, we referred to racists as "bigoted pinheads." I'm sure that Don will understand that I mean just as little disrespect as he did in his original quote.

The Atlantic Wire posted an interesting history of GOP attempts to reach out to people who weren't "stuffy old white men."