Entries tagged "Kashkari"

Kashkari takes Congress' tongue-lashing in stride

Cool, calm and collected. That's the only way to describe the point man for the government's $700 billion financial rescue package Wednesday as he faced angry lawmakers and at one point was even asked to step aside. In testimony before the House Financial Services Committee, Neel Kashkari, the assistant treasury secretary serving as the interim chief of the bailout operation, said the Troubled Asset Relief Program has made "remarkable progress since the president signed the law only 68 days ago." ...

House members lash out at Kashkari, each other over TARP

Lawmakers from both sides of the aisle blasted the Treasury Department Wednesday for failing to responsibly administer the $700 billion Troubled Asset Relief Program and for failing to address foreclosures and enforce lending obligations on banks. ...

Kashkari isn't sounding like a guy who wants to stay

Neel Kashkari, interim assistant secretary for financial stability at the Treasury Department, doesn't sound too eager to stick around after the Obama administration gets underway. During a hearing of the House Domestic Policy Subcommittee, he was asked whether he would remain as Treasury's point man for the $700 billion financial rescue if President-elect Barack Obama asked him. After long pause Kashkari -- who used to work for Goldman, Sachs & Co. and whose family still resides in New York -- said he would have to ask his wife. ...

Dodd questions Treasury's bailout execution

As the markets continue to struggle, Senate Banking Committee Chairman Christopher Dodd (pictured) and other lawmakers are beginning to question how the Treasury Department is using the $700 billion Congress gave it to stabilize the market. So far, $250 billion of the capital has been allocated for government purchases of large minority stakes in large and small commercial and investment banks. The next $100 billion is scheduled for government acquisitions of mortgage-backed securities, the asset that lawmakers and Treasury initially expected the funds would be spent on. But will it go there? ...

Treasury taps Ex-Im's Lambright for TARP position

The Treasury Department plans to install James Lambright, an Export-Import Bank chief since 2005, as interim chief investment officer for the government's landmark $700 billion stabilization purchase plan. Reuben Jeffery, under secretary of state for economic, energy, and agricultural affairs, once slated for the CIO position, will remain at the State Department....

Treasury's $700B man outlines goals

Neel Kashkari, the interim assistant secretary for financial stability and U.S. Treasury Secretary Henry Paulson's point man on the $700 billion financial rescue package, provided details Monday about how the department plans to implement the program.  ...

Meet Kashkari's team

When Treasury Secretary Hank Paulson hired his point man Neel Kashkari as the interim assistant secretary for financial stability, he was the first of what likely will be many staffers. While speaking to the Institute of International Bankers in Washington, Kashkari (pictured) divulged the names of his first hires. ...

Paulson, Kashkari and the politics of TARP

By now the world has had a day or so to get used to Henry Paulson's choice to become the so-called "market stabilizer" (which I thought was the Federal Reserve's job) and major domo of Treasury's TARP, Neel Kashkari. Now for alI I know, Kashkari is as advertised: a really sharp, up-and-coming young thing with an IQ bigger than the credit default swap market. But a few thoughts do come to mind with his ascension into bailout heaven, mostly involving not Kashkari, but his boss. ...

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