Reactions to story from The Washington Post

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  Paulson: A Desi Can Save Us

  http://www.sepiamutiny.com/sepia/archives/005443.html
  47 days ago in Sepia Mutiny · Authority: 386

  The response to the mortgage security mess is now winding its way through the government sausage factory and the next level of operational leadership is being revealed. This morning, Hank Paulson announced that Neel Kashkari will oversee the $700B program - The Treasury Department plans to tap Neel Kashkari, an assistant secretary of international affairs and a former Goldman Sachs banker, to oversee the government’s $700 billion financial rescue program, sources familiar with the situation said yesterday. Kashkari has been a close adviser to Treasury Secretary Henry M. Paulson Jr. on the credit crisis and helped draft the legislation for the massive rescue plan. He is expected to run the program on an interim basis until the Treasury finds a permanent head, according to sources who spoke on condition of anonymity because they were not authorized to comment. Kashkari’s replacement would stay on after the next administration takes office in January. At the tender age of 35, Neel is being handed quite a shopping budget. Then again, often the only thing bigger than a government amplified problem is the government created solution. The WSJ credits Neel with being a key man behind the scenes who crafted much of the “Paulson Plan” - [Neel] spent much of his tenure at Treasury helping Mr. Paulson stem the fallout from the housing correction. He helped implement an alliance of mortgage-industry players who joined last year to help homeowners in danger of foreclosure. Mr. Kashkari was part of the Treasury team that negotiated the asset-repurchase program with Congress, putting in marathon sessions along with Robert Hoyt, Treasury’s general counsel, and Kevin Fromer, the head of legislative affairs. He was also one of the originators of the plan. Last year, he and Phillip Swagel, assistant secretary for economic policy, crafted a proposal called “break the glass” — referring to the emergency nature of using such a tool — which envisioned Treasury buying bad loans and other assets. Neel’s official bio is up
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  Todays Update

  http://www.quetag.com/news/2008/10/todays-update_07.html
  46 days ago in Quetag: Latest News · Authority: 1

  h1 a:hover {background-color:#888;color:#fff ! important;} div#emailbody table#itemcontentlist tr td div ul { list-style-type:square; padding-left:1em; } div#emailbody table#itemcontentlist tr td div blockquote { padding-left:6px; border-left: 6px solid #dadada; margin-left:1em; } div#emailbody table#itemcontentlist tr td div li { margin-bottom:1em; margin-left:1em; } table#itemcontentlist tr td a:link, table#itemcontentlist tr td a:visited, table#itemcontentlist tr td a:active { color:#000099; font-weight:bold; text-decoration:none; } img {border:none;} Todays Update Foreclosure Alley - SoCal Connected Posted: 06 Oct 2008 08:03 PM CDT How to Protect Yourself Financially--At Any Age | Newsweek Business | Newsweek.com Posted: 06 Oct 2008 08:02 PM CDT Paulson Adviser To Oversee Rescue - washingtonpost.com Posted: 06 Oct 2008 07:22 PM CDT The party's over for Iceland, the island that tried to buy the world | World news | The Observer Posted: 06 Oct 2008 07:22 PM CDT The Canadian Press: Russian stocks plunge by nearly 20 per cent, worst daily loss ever Posted: 06 Oct 2008 07:21 PM CDT The Associated Press: Dow plunges below 10,000; lowest level since 2004 Posted: 06 Oct 2008 07:21 PM CDT Google Maps, Submarine Tunnels & Spy Satellites Over Greenland Posted: 06 Oct 2008 07:18 PM CDT In Storm-Ravaged Galveston, Echoes of New Orleans - TIME Posted: 06 Oct 2008 07:14 PM CDT Google Docs And Spreadsheets: Google Spreadsheets Updates, More Like a Desktop App Posted: 06 Oct 2008 07:13 PM CDT Economic chaos creates surge in homelessness - BlackListed News Posted: 06 Oct 2008 07:13 PM CDT BBC NEWS | Business | Financial crisis pummels stocks Posted: 06 Oct 2008 07:03 PM CDT You are subscribed to email updates from Todays news update To stop receiving these emails, you may unsubscribe now.Email Delivery powered by FeedBurner Inbox too full? Subscribe to the feed version of Todays news update in a feed reader. If you prefer to unsubscribe via postal mail, write to: Todays news update, c/o FeedBurner, 20 W Kinzie, 9th Floor, Chicago IL USA 60610
• 

  Paulson Adviser To Oversee Rescue

  http://truthiscontagious.com/?p=981
  47 days ago in Truth is Contagious · Authority: 1

  David Cho The Washington Post The Treasury Department plans to tap Neel Kashkari, an assistant secretary of international affairs and a former Goldman Sachs banker, to oversee the government’s $700 billion financial rescue program, sources familiar with the situation said yesterday. Kashkari has been a close adviser to Treasury Secretary Henry M. Paulson Jr. on the credit crisis and helped draft the legislation for the massive rescue plan. He is expected to run the program on an interim basis until the Treasury finds a permanent head, according to sources who spoke on condition of anonymity because they were not authorized to comment. Kashkari’s replacement would stay on after the next administration takes office in January. Treasury today will begin the hiring process for five to 10 asset managers and release guidelines for how it will manage conflicts of interests for contractors who work for the program, the sources said. Officials, however, do not expect the purchase of assets to start until at least the middle of November. Under the program, the Treasury will buy troubled assets from financial institutions, many of which have large holdings in mortgage-related securities. Industry sources said Legg Mason, Pimco, BlackRock and MKP Capital Management are strong candidates as asset managers because of their expertise in mortgage-related securities. But hiring asset managers from such firms would raise the potential for conflicts of interest; the managers would be overseeing the assets while also selling their own troubled securities to the government. Kashkari is among a small and influential group of former Goldman Sachs bankers who advise Paulson, himself the chairman of Goldman Sachs before coming to Treasury. A former vice president at Goldman, Kashkari led the firm’s security investment banking practice.
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  gleans at 11:15 PM MT, 10/5

  http://www.cyrilsgleans.com/2008/10/gleans-at-1115.html
  47 days ago in Cyril's Gleans · Authority: 31

  body{font-family: Geneva,Arial,Helvetica,sans-serif;font-size:9pt;background-color: #ffffff;color: black;} body{font-family: Geneva,Arial,Helvetica,sans-serif;font-size:9pt;background-color: #ffffff;color: black;} World failed to learn from Gordon Gekko: Rudd ABC Online, Australia - 6 hours ago Prime Minister Kevin Rudd says the global financial crisis shows the world failed to learn from the "greed is good" era of the 1980s. In a speech to a group ... Greed fed market turmoil, says Rudd Sydney Morning Herald The children of Gordon Gekko The Australian Citigroup, Wells May Carve Up Wachovia in Compromise, WSJ Says Bloomberg - By David Mildenberg and Patricia Hurtado Oct. 5 (Bloomberg) -- Citigroup Inc. and Wells Fargo & Co., prodded by US regulators, may divide up Wachovia Corp. China dispatches 5000 inspectors over milk scandal AFP - BEIJING (AFP) - China has ordered more than 5000 inspectors to be posted at its dairy factories, state media said Monday, as the tainted milk scandal continued to impact countries as far away as South America. China detains 6 more people in milk scandal The Associated Press Hong Kong finds melamine in two Cadbury products Reuters Washington Post - Voice of America - Jakarta Post - United Press International all 951 news articles » BBC NewsEuropean Crisis Deepens; Officials Vow to Save Banks (Update2) Bloomberg - By Sandrine Rastello Oct. 6 (Bloomberg) -- The global credit crunch deepened in Europe as government leaders pledged to bail out troubled banks and protect depositors. Europe Redoubles Efforts To Restore Confidence Forbes BNP Paribas to control Fortis in Belgium, Luxembourg MarketWatch International Herald Tribune - Financial Times - RTT News - Washington Times all 456 news articles » OTC:BNPQY - BIT:BNP - AMS: Washington PostPaulson to Tap Adviser to Run Rescue Program Wall Street Journal - By DEBORAH SOLOMON WASHINGTON -- Treasury Secretary Henry Paulson is expected to tap Neel Kashkari, a key adviser on whom he has come to rely heavily during the financial crisis, to oversee Treasury's $700 billion program to buy distressed assets from ... Paulson to Name Kashkari to Oversee Bailout, WSJ Says (Update1) Bloomberg Paulson to Tap Adviser to Run $700 Billion Rescue Program Washington Post Reuters - New York Times - Christian Science Monitor - MarketWatch all 87 news articles »

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