Neel Kashkari, a former Goldman Sachs executive and Paulson protégé has been named interim head of the government's $700 billion rescue group - overseeing the $700bn plan to purchase Toxic assets from financial institutions.
Watch first 20 seconds of following clip:
Kashkari is one of the US Treasury secretary's closest policy advisers, first taking a lead role in developing the departments response to the housing crisis and then emerging as the point-person on the bail-out.
Mr Kashkari was almost invariably at Mr Paulson's side during the frenzied negotiations over the passage of the "troubled asset relief programme" on Capitol Hill over the past two weeks.
He arrived at the Treasury from the San Francisco office of Goldman Sachs, where he worked as an investment banker focused on information technology security companies, advising on mergers and acquisitions and financing.
His appointment highlights the extent to which Mr Paulson has entrusted many former Goldman executives with important policy portfolios throughout the financial crisis.
The prominence of Goldman alumni within the administration has raised eyebrows at competing Wall Street banks which have become concerned about what some privately see as Goldman's disproportionate influence over policy.
AMEN!
2 comments:
How fitting of a name!!! Kash & Kari
LOL...and look at the guy...he's taking the protege thing a bit too far!
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