US banks saved but rest of nation still drowning, Sigtarp finds

US government attempts to repair the damage done by the financial crisis have been successful as regards the major banks, but have failed to address rising unemployment and a lacklustre residential property market, according to the latest quarterly report from Neal Barofsky, special inspector-general for the Troubled Assets Relief Program (Sigtarp).

The report notes banks previously bailed out through Tarp – even those such as Citigroup and Bank of America, which Barofsky claims would probably h