Posted on 10/06/2008 12:17:18 PM PDT by Shermy
Washington– Secretary Henry M. Paulson, Jr. today designated Neel Kashkari as the Interim Assistant Secretary of the Treasury for Financial Stability pursuant to the Emergency Economic Stabilization Act of 2008. In this capacity, Kashkari will oversee the Office of Financial Stability including the Troubled Asset Relief Program.
Kashkari is currently Assistant Secretary of the Treasury for International Economics and Development. In this role, he is responsible for developing and executing policies for the Department to foster a more conducive investment climate for the U.S., as well as to support global economic growth. He will continue to hold this position, but while acting in his new role, his International Affairs responsibilities will be delegated to Assistant Secretary for International Affairs Clay Lowery.
Kashkari joined the Treasury Department in July 2006 as Senior Advisor to Secretary Paulson. In that role, he was responsible for developing the President's Twenty in Ten energy security plan, enhancing Treasury's engagement with India, particularly in the area of infrastructure development, and developing and executing the Department's response to the housing crisis, including the formation of the HOPE NOW Alliance, the development of the subprime fast-track loan modification plan, and Treasury's initiative to kick-start a covered bond market in the United States.
Prior to joining the Treasury Department, Kashkari was a Vice President at Goldman, Sachs & Co. in San Francisco, where he led Goldman's IT Security Investment Banking practice, advising public and private companies on mergers and acquisitions and financial transactions. Prior to his career in finance, Kashkari was a R&D Principal Investigator at TRW in Redondo Beach, California where he developed technology for NASA space science missions such as the James Webb Space Telescope.
Originally from Stow, Ohio, Kashkari graduated from the University of Illinois at Urbana-Champaign with a Bachelor's and Master's degree in Engineering. He also received an M.B.A. in Finance from the Wharton School. He and his wife reside in Maryland.
http://money.cnn.com/2008/10/06/news/newsmakers/head_bailout.ap/index.htm?section=money_latest
This bailout bill was a bad idea and John McCain will rue the day he didn’t come out in opposition to it.
Is it wise to appoint someone whose name sounds like Cash n Carry to this post?
Does this mean we are outsourcing the bailout to India?
(Politically incorrect, but you were thinking it too.)
35 year old former underling to Paulson at Goldman, now underling at Treasury.
Pliable? Message to the world this bailout money will cover overseas interests first? Message to world to keep funding Bush’s deficits, we’ll get the money back to you another way?
“Interim Assistant Secretary for Financial Stability”.
Sounds vaguely Soviet.
“This bailout bill was a bad idea and John McCain will rue the day he didn’t come out in opposition to it.”
He went in thinking he will save the day because the Democrats will look to him for politically correct Republican cover, as they usually do. That he would be the middle man deal breaker. Hubris.
They went into that useless meeting with Bush preplanned to blame McCain and praise Obama. Even though both have little input on these kind of issues. McCain looked like a fool.
Then he did nothing to distinguish himself from the bailout.
Why are they calling him the assistant secretary for “financial stability”? Is he going to be our ‘representative’ when the global financial stability forum takes over the entire economic system of the world? Is that why they created the position?
It’s not vague and it is soviet.
You are seeing the synthesis of capitalism and communism in play, according to Hegel.
Shermy, I don’t know what to make of everything that is happening today. The Fed is supply hundreds of billions in funds to banks that don’t seem to be part of the bailout. Then this appointment.
You could be right. This is like trying to figure out what is going through the mind of a baseball manager during the playoffs when his pitcher gets in trouble.
Hello, my name is Neal.
Have you tried rebooting Windows?
But, reality is too much. Kashkari, indeed.
>.bailout money will cover overseas interests first?
Well, that’s what the whole game is about, just like the Mac’s, where the Chinese were big holders.
Soviet, true.
Past: Freedom! Don’t regulate us! We don’t need rules! Let freeeeedom ring!
Now: Government money! Save us! Don’t pass reforms in the Bailout either, just promise to look into them in the future!
Ok, I am confused. Paulson doesn’t have enough free time to lead the bailout? What business does he have that is more important?
Maybe he has to spend his entire day looking for cracks in the US economy so that he can ensure the American way of life. He has done such a great job up until now!
I understand there are credit card company reforms in the bailout bill, as well as Fed regulations that take effect later this year which will clamp down on the numerous abuses of the consumer by the banks.
I also understand the banks are hurriedly trying to raise interest rates and fees before these regulations go into effect, to stay one step ahead of the government.
Scum. That’s the only word that comes to mind right now when I think about bankers.
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