Paulson Picks Goldman Sachs "Underling" to Run Bail out!


The Washington Post reports that Kashkari is a former vice president at Goldman Sachs, where he led the firm's security investment banking practice. Apparently, Kashkari was still a student at Wharton in February, 2002, when the Philadelphia Inquirer reported on his participation in a leadership class exercise. That would put him at no more than six years out of school.

In 2006, Neel Tushar Kashkari of Stow Ohio was reported to be selected as one of the regional finalists for the White House Fellows Program. A final listing of the actual recipients for 2006-2007 does not include Kashkari.

That's only 5 years of experience and most in IT related areas!

A 35 year old recent MBA graduate with no expertise in the S&L crisis or any going to run the bail out!

Blogger on Dailykos:

I cannot appropriately judge where he is now based on interactions ten years ago, but he has remarkably limited experience to be fulfilling such a role, and while he is intelligent, I did not see the level of genius ten years ago that might be required to compensate for such limited experience.

WSJ notes this guy literally wrote security and IT areas and was only a VP before joining the Treasury Department.

He is one of the authors of the first "That's B.S." bail out bill.

From the confirmation hearing, Matt Stoller parsed some of the testimony already and notes:

his responsibilities at Treasury were to increase free trade, reduce our dependence on oil through conservation and alternative energy deployment, and respond to the Housing crisis by working to ensure a flow of capital through the private sector to the housing sector while minimizing the spillover of the housing deflation to the rest of the economy

Increase free trade. Right, one of the major deficits hurting the US economy.

Bloomberg on any Senate oversight:

Senate confirmation is required to fill the position for which Kashkari will be nominated. The Treasury hasn't specified the length of Kashkari's tenure, or whether the White House would nominate him officially. The Bush administration remains in office until January

So, it appears he can just be appointed and by claiming he is an interim in charge...never been officially nominated and thus no need to be confirmed(?).

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