Neel Kashkari, Former Goldman Sachs Executive, To Head $700 Billion Bailout

WASHINGTON — The administration has selected a former Goldman Sachs executive to be the interim head of its $700 billion rescue effort for financial institutions.

Neel Kashkari, the Treasury's assistant secretary for international affairs, was selected Monday to be the interim head of Treasury's new Office of Financial Stability.

The designation was made by Treasury Secretary Henry Paulson, who was the head of Goldman Sachs before he joined the Bush administration in 2006. Kashkari, 35, will head the office created by the emergency legislation enacted Friday to fund the largest government bailout in history.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

WASHINGTON (AP) _ An official says the administration has decided to pick a key Treasury Department official to be the interim head of its $700 billion rescue effort for financial institutions.

The official said Monday that Neel Kashkari, Treasury's assistant secretary for international affairs, will soon be announced as the interim head of Treasury's new Office of Financial Stability. The official asked not to be identified by name because the selection has not been announced publicly.

The 35-year-old Kashkari is a former Goldman Sachs Inc. banker, the investment giant once headed by Treasury Secretary Henry Paulson. The new office was created by the emergency legislation enacted Friday to fund the largest government bailout in history.

Comments

[All in All]

I wonder what Country this guy was born in and what would McCain-Palin say if this guy was Half African-American & White.....................

[Pdubya]

If I were to meet him in an alley........

[OkayLady]

Oh look our mystery date has arrived! I'm guessing he "forgot" his wallet and will be very apologetic when he asks us to to pick up the bill.

[cynicalgal]

Is it me or does he look like an Alien?
We all need a good laugh. Look at the new SARAH PALIN BARBIE DOLL:

http://www.Vaboomer.com

[GerryS]

before kash&carry leaves the room, check his pockets-

[fedupwiththis]

Crony Capitalism strikes again! Will he be pre-pardoned?

[GerryS]

they gotta know the charges first-

[cynicalgal]

Want to forget the current bad news? You need a good laugh.
Look at the new SARAH PALIN BARBIE DOLL:

http://www.Vaboomer.com

[iPolitics]

McCain-Bush, Corporations First Economics

[RAFord24]

He's a cute thief. Before you leave in Jan, WHERE IS MY MONEY?

[Firbolg]

Surely the first thing Congress should "oversee" is the appointment of the person who is to get his hands on the checkbook for our $700 billion and not just let him or her be picked by vested interests. Oh, I forgot - Congress is closed so they can all go home and get reelected. SIlly me, that's obviously much more important.
So much for Nancy and Harry's "accountability".

[SavvySkeptic]

I actually know this person. This is important, so I'm reposting it.

Kashkari and I have a mutual friend. We were at an event last year. A few of us sat outside that evening, to chat. My Significant Other and I joined him, his wife, and another couple. Oddly, they were at 2 tables, segregated by gender. Their women talked weather. The guys talked politics.

Kashkari starts dogging Hillary Clinton. He said "I'd never vote for her because I don't think women should be president." Verbatim. My SO told me this.

My SO defended women, but Kashkari wouldn't have it. He insisted women should never be leaders. Kashkari's own SO said earlier, that although she had a career, "I basically follow Neel around wherever he goes." Verbatim. She was OK uprooting her job whenever he had the whim to move around. That was an interesting precursor to his misogynist statements later.

Kaskhari then said global warming doesnt' exist. He said wind energy is stupid. And he would look up things on his Blackberry whenever my SO said something, to prove him wrong.

Because he didn't like non GOPs, he later went to our mutual friend and said my SO had talked about being abducted by aliens. Yes, Neel Kashkari said this, in an attempt to attack someone he disagreed with.

This is the person the GOP wants to manage your money. I assume sooner or later, he may run for office. Now THAT would be a scary day.

[NicoleAnon]

None of that has anything to do with him being immoral which he obviously is if he works for Paulson so I'm not sure why you're mentioning it.

He isn't a politician and his opinons about women are his choice - in this country we have freedom of speech.

[mooph]

Outrageously slandering someone he disagrees with isn't immoral?

[SavvySkeptic]

Because with all the scandals about McCain and others, being hidden away, I thought it would be interesting to note lack of character in people who are rising to the top, before they get there and begin denying it all. He may very well be a financially competent person. But he's a crony of Paulson's and I think someone more neutral should be appointed for this role.

With this amount of power, he may get the contacts and resources to run for office, and everyone will be ga-ga of a younger person who came so far so fast. If he wants to run for office, things he has been witnessed saying are important, because it is an indicator of his thinking and decision-making. I'm not sure if it will impede things at all, but I wanted to put it out there.

I see your point that on the face of it, this seems only mildly related, but if you look at what the future might hold for him, and therefore for us, it has more impact.

[LeaderofMen]

Henhouse.

Meet fox.

[partyofone]

Fox to federal government, we need a trillion new chickens .... FAST!

[dadw5boys]

IF YOUR NOT CALLING THE FBI OR YOUR CONGRESSMAN AND DEMANDING THAT COUNTRY WIDE AND OTHER WHO WROTE OVERVALUED LOANS BE CHARGED UNDER THE RICO ACT WITH RUNNING A CRIMINAL ENTERPRIZE YOUR WASTING YOU TIME POSTING.

CALL AND DEMAND THOSE WHO ACTED IN COLLUSION WITH PROPERTY APPRAISERS TO OVERVALUE THE HOMES AND THEN PACKAGED THESE LOANS FOR SELL COMMITING FRAUD.

THEY DO THAT 3 TIMES OR MORE THAT IS OPERATING A CRIMINAL ENTERPRIZE.

THE RICO ACT APPLIES HERE.

DEMAND ACTION! !!!!!!

[NicoleAnon]

There is nothing we can do right now about it. Do you really think the FBI is going to help us? Instead of focusing on all the fraud in the banking industry last year they were following Spitzer around trying to find evidence against him. The FBI is part of the government and they're not really on our side. We don't have a President right now - I really think he is passed out most of the time.

We don't have a President, the VP is corrupt and Paulson has been given the authority to steal from taxpayers and congress knows it and nobody has asked Paulson to resign because of a conflict-of-interest and everyone is talking about the election.

They're going to steal as much as they can in the next month or so and calling the FBI won't do anything. Sorry but there isn't much we can do now.

[Justinpassing]

CASH&CARRY, odds have to be greater than chance would allow.....LMAO

[Ihaveadream]

This guy is 35 years old - WTF does he know? I'm sure his qualifications are his rich/connected daddy or grand-daddy, same as McCain or W, the two party boys who slid by, promoted and financed by daddy's friends.

[GerryS]

probably related to BUSHCO(tm) affiliate b i n l a d e n