Monday, October 6, 2008
What do you think? I've got nuthin.'
Posted by Sarah Andert on Mon, Oct 6, 2008 at 8:38 PM
From NPR.org:
The $700 billion man.
Chris Taylor, U.S. Treasury Department/AP Photo
The great big Wall Street bailout now has a boss, and guess where they found him? Neel Kashkari works with Treasury Secretary Henry Paulson now, as assistant secretary for International Economics and Development. Kashkari, 35, came to the Treasury through the same route as Paulson, which is to say through Goldman Sachs.
He'll oversee the Troubled Assets Relief Program and the Office of Financial Stability.
The Wall Street Journal runs down his curriculum vitae, with this note about Paulson:
Paulson likes to surround himself with people he's comfortable with: people, mostly, from Goldman Sachs. Paulson's inner circle already includes former Goldmanites Dan Jester, a financial institutions banker, and retired banker Steve Shafran, who focused on corporate restructuring at Goldman. It also included Robert Steel, who has since left Treasury to become CEO of Wachovia.
-- Laura Conaway
Does anyone see any problems with this? Why does everyone come from Goldman Sachs? Maybe that means they know the system well, but I'm skeptical and fear corruption. Anyone have other comments/sources on this? Should we trust this guy?
Comments (4)
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Word in my crowd is that since he's desi*, he can fix anything. Jokes aside, some funny/good discussions here and here. Goldman Sachs hires seriously smart people, but makes many of them VP in a few years, i.e. VP is no achievement at GS. *desi = of the Indian/Subcontinent motherland; of Indian/subcontinental descent
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One would think they would surround themselves with a diversity of opinion. Instead, the "Goldman Sachs School of Thought" is what will be guiding the bailout efforts. It's like academic inbreeding only it involves $700,000,000,000 taxpayer dollars
