Word: kashkari
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...Josh Bolten. Goldman's current boss, Lloyd Blankfein, was invited to participate in meetings with the Fed. AIG's Liddy is a former Goldman director and an ex-CEO of Allstate. Another alum, Mark Patterson, once a Goldman lobbyist, serves as chief of staff at the Treasury, while Neel Kashkari, who runs TARP, was a Goldman vice president...
...Kashkari told lawmakers that it is very difficult to figure out how the funds that banks have received from the government are being used but that he thought the moves Treasury has made so far have gone a long way toward stabilizing the economy. Kashkari also said that Treasury was interested in stemming foreclosures, but it would be very difficult to formulate a cost-effective program. "I am very concerned about redefaults," said Kashkari. "The plans we have passed so far have been thoughtful, but they haven't helped as many homeowners as we had hoped...
...Treasury has handled the first stage of the $700 billion financial-rescue plan. In a hearing on Wednesday, members of the House Financial Services Committee said the Treasury has not done enough to slow foreclosures, increase bank lending or protect taxpayers' money. Lawmakers questioned Assistant Treasury Secretary Neel Kashkari on why his agency had not yet hired an outside firm to help manage its investments. They also wanted to know whether the Treasury Department had set a limit on executive compensation at the firms in which Treasury has invested, which lawmakers say was required in the early-October bill. Lawmakers...
...were supposed to set an appropriate level of executive compensation at the firms taxpayers were investing in," said Representative Brad Sherman, a Democrat from California. "But the record should show that Mr. Kashkari is unwilling to say whether he will allow a $30 million bonus...
...Kashkari a chump?' REPRESENTATIVE ELIJAH CUMMINGS, questioning Neel Kashkari, manager of the Treasury Department's $700 billion rescue plan, after bailout recipient AIG spent $503 million on executive bonuses...