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Oct
06
What do you think? I’ve got nuthin.’
Posted by: Sarah Andert in News & Politics

From NPR.org:

Meet The Bailout Boss

descriptionThe $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?
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Comments:
Maitri on October 6th, 2008 at 4:50 pm #

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

Charlie Buras on October 6th, 2008 at 4:57 pm #

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

Adrastos on October 6th, 2008 at 5:21 pm #

He looks like an alien from a Fifties movie: It Came From Wall Street,

Julie on October 7th, 2008 at 4:01 pm #

I used to sit next to Dan Jester at Goldman in the 90’s. He’s a very smart, responsible guy.

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