Federal Prosecutor Named Bailout Watchdog
A federal prosecutor in New York who has convicted white-collar criminals and narcotics traffickers has been named inspector general to oversee the government’s $700 billion Wall Street bailout.
Neil Barofsky was nominated on Friday, the New York Law Journal reports. He is an assistant U.S. attorney who currently heads the mortgage fraud group for the prosecutors’ office in the Southern District of New York. He is best known for prosecuting two former executives at the failed commodities trading firm Refco, according to the New York Times.
He earned highest honors from New York University law school and has two degrees from the University of Pennsylvania, including one in economics.
He is scheduled to appear before the Senate Finance Committee today as part of the confirmation process. Former colleagues told the Times that Barofsky is smart and savvy and displays “a sharp and sometimes withering wit.” He is also a “die-hard Yankees fan,” according to the Washington Post.
Robert Finzi, a friend and former colleague, told the Washington Post that Barofsky’s experience will serve him well in the new job. “He has stared down international drug traffickers,” Finzi said, “so he ought to be able to stare down investment bankers.”
