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

[gorgol]

Does he not have a similar look as Paulson?? PURE EVIL...and look who hires them on...BUSH!!!!!
WE ARE TRULY AT THE END OF DAYS...

[ema]

Horrifying.

[GerryS]

i become more and more fearful, minute by minute-

[Wichitan]

Is it more of a distraction? I still think something really sinister is going on beneath the surface.

[franklin opt]

We should be getting STOCK in these companies, not their junk securities. We could start our own junk FOOD company and call it "Goldman Snacks."

[bascombe]

nice name:
Kneel Cash Carry

[Fernando]

LOL!

He also looks like a super villain, don't he?

[SavvySkeptic]

holy crap,t hat's funny. And I'm indian.

[ranch111]

Isn't that nice. Hire an insider to do the job. Congress, the American people will be coming with torches soon.

[SavvySkeptic]

I actually know this person. My previous comment didn't post, so I will try under this screen name.

This person 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. The 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, and I heard part of it, as I was sitting nearby. The other women were oblivious.

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.

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]

What was the event? Sorry but I don't believe you unless you can provide us with information that we can verify.

And when she said "I follow him around wherever he goes" she was probably just making a joke about him moving for the job at the Treasury department and how she had to move with him.

[truthsforsaken]

You can't write fiction like this. I was almost thinking they posted this in the wrong section.

I laughed at this like I laugh at 23/6.

[JScott]

And why did we think otherwise.....sad for this country really.

[sophistwatch]

It would seem that Goldman Sachs will now operate America on behalf of its wealthiest shareholders. Unfortunately, this will not include the tax payer even though we are the largest stake holder.

But don't fret. We know that Neel Kashkari will pay special attention to the preservation of our investment because GS has a long track record of doing the right thing for its investors ; - )

The Secretary of the Treasury , Henry Paulson, is a former GS CEO and now he has his buddy at GS, Mr. Kashkari, will be handling the bail out. No conflict of interest here.

If I am not mistaken the House of Saud and the Saudi crown prince are large share holders of stock in Citigroup, General Electric, Merrill Lynch, Goldman Sachs, and the Fremont Group.

In the ultimate insult added to injury our government has forced us to "lend" Wall Street criminals money so they can use it to pick us off one by one as we fall victim to their scams.

They will buy our houses and debts for pennies on the dollar while we drop like flies because the money we were forced to lend to keep the markets from freezing up is being withheld from us.

We have been completely sold out.

[TinRoofRusted]

Shouldn't his name really be ... Kneel, Cash, & Carry?

[bascombe]

great minds think alike!

[NicoleAnon]

If anyone thinks he will be replaced when your candidate wins the election, you're wrong.

This a list of top donors to your candidate and before you insult me and tell me I'm a horrible Republican, this is public information. I'm not making this up on my own.

Top Donors.
1. Goldman Sachs - $739,521
2. University of CA - $697,506
3. Harvard - $501,489
5. Citigroup - $492,548

[truthsforsaken]

Two Party Fascism anyone?

[NicoleAnon]

They just pulled off the biggest scam in American history and they have planned this for a long time. They knew there were going to be astronomical losses in the banking industry so they had to find a way to transer wealth from the lower and middle class to wealthy shareholders and investors and they also made sure to do it right before the election because they knew people would be too busy talking about petty things like what shoes SP wore to focus on this.

Most of them knew in 2006 that there would be banks failing and the market was going to crash and that they had to find a way to steal money from taxpayers and they knew congress would let them get away with it. They had to have people from Goldman Sachs in the Treasury department and Paulson never offered congress any alternatives to the bailout because everyone knew the bailout wasn't a solution to the crisis but just a way to steal money from us.

I realize this seems crazy but this has all been planned for a long time. That is why I'm not angry that he hired someone from GS to be in charge - I've been telling people that was going to happen so I don't even waste time getting upset anymore.

[franklin opt]

The financial industry has been "playing" both sides of the aisle for decades. That's how we got into this mess. Follow the money.

[NeoConsAreWhackJobs]

i donated a $100.00, am I on that list?

[OB-GYN]

It may be time to take to the streets.

[MysticInd]

See 2006 article on Fema and it's new direction for Martial Law.

http://www.globalresearch.ca/index.php?context=va&aid=3010

[truthsforsaken]

That's really informative actually. About as surprising as this article, but still good to know real details. Thanks.

[franklin opt]

Thank you for that thought. Now go back to practicing your "love."

[afgail]

You need to know whose bonds Goldman Sachs held. Saudi sovereign accounts? And Lehman probably monied Democrats accounts. As usual all things economic are also political.

[TheIndependenceParty]

GS changed to a "depository bank" and we just guaranteed them to the tune of $ 250,000 per account. Did you have that much at stake? Nope, ... no one but GS did!

The expansion of the protection on a given account affected no one but Goldman Sachs.

Another silly, simple aspect of the greatest heist in the history of mankind. The Bailout of 2008 has bankrupted the economy of the People of the United States.

The criminals who committed the crime have yet to be determined and discovered.

[DonTampa58]

I'm quoting from the 70's Queen song, "No, no, no, no, no, no, no!" Have I made myself clear? This is exactly the kind of person we don't need running this. When we throw the bums out, we throw them all out.