SIGTARP isn’t happy about the failure of the Treasury to enforce its regulations on home mortgage servicers. Treasury has no response, and just whines. Anonymously.

It was bad enough that the Feds stopped enforcing the law. Now they want the State Attorney Generals, including Eric Schneiderman of New York, to stop enforcing the law. But only as to banksters. Pot smokers are still fair game.

The House Oversight Committee held its first hearing since Darrell Issa got the gavel today, and it’s on TARP and foreclosures. And that bifurcation is accurate – the Republicans on the panel, for the most part, are asking about TARP, and the Democrats are asking about foreclosures.

Shahien Nasiripour’s article about Citibank’s near-bankruptcy in November 2008 shows how silly it is to expect safety by creating a “systemic risk council,” one headed, I might add, by Tim Geithner. He basically applies the Potter Stewart principle to systemic risk, saying that he’ll know it when he sees it. And somehow, I’d guess that he’ll see systemic risk in any big bank that goes down.

TARP Special Inspector General Neil Barofsky has launched an investigation into allegations that Treasury Secretary Tim Geitner ordered AIG to make material misstatements on their financial reports filed with the government. Barofsky’s the perfect guy for the job — will something come of this?