Inspector General Says Insufficient Oversight for TARP

Neil Barofsky, the special inspector general for the TARP, is saying that oversight by the US Treasury Department and the Federal Reserve is woefully inadequate, and he also places the price tag for the bank bailouts at as much as $23.7 trillion.

By way of perspective, the whole US economy (GDP) is about $15 trillion, and the the world GDP is is listed at $65.82 Trillion.

To quote the Bloodhound Gang:

The roof the roof the roof is on fire
The roof the roof the roof is on fire
The roof the roof the roof is on fire
We don't need no water let the motherf#$%er burn
Burn motherf#$%er burn

We need to amputate the current banking system, and replace it with something that works.