President Bush did Friday what should have been done before a penny of the $700 billion in financial industry bailout funds was distributed. Bush appointed a special inspector general to oversee the bailout.

Neil Barofsky, an assistant U.S. attorney for the Southern District of New York, will audit the bailout and investigate how the money is used. He also will assess the value of any assets bought with bailout funds and explain why they were purchased.

Barofsky has experience with big money. As a federal prosecutor, he has pursued cases involving securities and mortgag...

Log-In to view full story or view our Registration Guide.