Neil Barofsky, a frequent critic of Wall Street and government bailouts, has been tapped to monitor Credit Suisse Group AG after the bank admitted to helping Americans evade taxes, a person familiar with the matter said.
Neil Barofsky was unpacking boxes in December 2008 when the stench of sewage wafted through the hallways at the 168-year-old Main Treasury Building. The space assigned to him as head of the Office of the Special Inspector General for the Troubled Asset Relief Program, or SIGTARP, was shoehorned into the basement, three floors below U.S. Treasury Secretary Henry Paulson ’s offices.
The Justice Department didn’t blink in its pursuit of a guilty plea from Credit Suisse AG for helping thousands of Americans evade taxes. What prosecutors accomplished with the criminal conviction -- the first of a major bank in a decade -- isn’t as clear.