I first heard the name Neel Kashkari early this morning but, not knowing how to spell it, couldn't find the news now blossoming in financial circles. Kashkari is the guy chosen by the Treasury secretary to oversee the bailout. Neel Kashkari, "the man with the $700 billion wallet", is a Paulson pal from -- you guessed it -- Goldman Sachs. Here's what the Wall Street Journal's Heidi Moore has to say, among other things:
"Treasury Secretary Hank Paulson is promoting Neel Kashkari, the Treasury’s assistant secretary for international affairs, to be the point man overseeing the $700 billion financial bailout as the interim head of Paulson’s Office of Financial Stability. The full appointment would need Senate confirmation, which is unlikely to come given the short remaining tenure in this Administration."
Confirmation? Depends on the connections of senators to Goldman, doesn't it? Cash and carry, you might say.
