Treasury less than candid with bailout

moneyA report from the inspector general overseeing the government’s bailout of the banking system says the Treasury Department was less than candid last fall about the health of the bailed-out banks.  Visiting law Professor Elizabeth Nowicki, a former SEC attorney and Wall Street lawyer, says such lack of transparancy is what caused a run on the banks decades ago.

“It simply does not make good sense from the standpoint of shareholder and economic confidence for the Treasury Department — and any financial entity — to be anything less than completely honest, particularly in a time of banking turmoil and finance difficulty.”

Contact Elizabeth Nowicki at enowicki@bu.edu

Post a Comment

Your email address is never shared. Required fields are marked *