WASHINGTON AP – President George W. Bush on Friday picked a federal prosecutor in New York to be a Treasury-based special inspector general to oversee the massive $700 billion financial rescue plan.
If confirmed by Senate, Neil Barofsky, an assistant U.S. attorney in the Southern District of New York, will be responsible for conducting audits and investigations of how the government spends the bailout money. He will also will report on the value of any assets acquired by the government and why they were purchased.
