| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
Moments before, Kashkari had bluntly told Kucinich that Treasury would not provide capital to institutions that regulators deemed too weak to be viable. "We don't think it's a good idea to invest in institutions that are about to fail," said Kashkari, the point man for the Treasury Department's Troubled Asset Relief Program. The congressman appeared to be nearly apoplectic. "You are going to hear about that statement for the rest of your career," Kucinich told Kashkari. In subsequent hearings over the TARP program, Kucinich has been highly critical of the program's management and on Kashkari in particular for his often less-than-thorough explanations of how federal capital invested in the country's banks and biggest financial institutions was being used. Apparently Kucinich's outrage was all an act. Turns out Kucinich loves the guy. In a feature in Wedneday's Washington Post, Kucinich was characterized as being full of praise for Kashkari, who is stepping down after holding the thankless position of "interim assistant secretary for financial stability." Kashkari was named to the job by Bush administration Treasury Secretary Henry Paulson and has continued under Obama Treasury chief Tim Geithner. Kashkari is expected to be replaced by Herb Allison, who was nominated to be Treasury assistant secretary on April 17. Allison must still be confirmed by the Senate. Kashkari hasn't formally announced when his last day will be, but he told the Post it would "probably" be Friday. The Post's most interesting insights came from an account of behind-closed-door comments from Kucinich to Kashkari. "Don't take it personally," the Post quoted Kucinich as telling Kashkari. "I think you're doing a great job." - Bill McConnell See story from The Washington Post
CategoriesComments
From: cabdriver,
if thats an example of their "facts" why read the half-article displayed?
Posted on:
May 1, 2009 12:02 PM
 Deal Video
    Community
 Elsewhere on The Deal.comDealwatchThe Deal MagazineCorporate Dealmaker
The Deal VideoCategories
Blog roll
Archives
| |||||||||||||||||||||||||
In a November hearing, Rep. Dennis Kucinich, chairman of the House domestic policy oversight subcommittee, ripped into the Treasury Department's Neel Kashkari for forcing Cleveland-based National City Corp., based in the Ohio lawmaker's home state, to be sold to Philadelphia's PNC Financial Services Group Inc. (NYSE:PNC).
|
|
|
|
|
Too bad PNC isn't a Philly based company.
Fact checking FAIL.