Neil Barofsky

Assistant United States Attorney Neil Barofsky serves as a Special Inspector General for the U.S. Treasury Department in charge of overseeing the Troubled Assets Relief Program (TARP).

On April 21, 2009, Barofsky submitted a 250-page report to Congress detailing concerns over the use of the $700 billion in bailout funds being used by banks and automakers.CNNMoney.com: Bailout Cop Busy on the Beat

In April of 2009, Barofsky told Congress his concerns over the use of TARP funds, stating he has opened 20 criminal investigations and six audits over the funds. As part of the report, he recommended a higher level of transparency as to where the funds are being used, suggesting that all TARP recipients be required to detail where they are spending the bailout money.CNNMoney.com: Bailout Cop Busy on the Beat

As part of his probe into the use of TARP funds, Barofsky opened an audit into insurance company American International Group (AIG) in April of 2009. AIG received $180 billion as part of the TARP loan, but was criticized for potentially overpaying banks including Goldman Sachs.Bloomberg.com: AIG's Bank Payments Probed by TARP Inspector General