Paulson protégé to run bail-out
By James Politi in Washington

Published: October 7 2008 03:00 | Last updated: October 7 2008 03:00

Hank Paulson has appointed Neel Kashkari, a protégé from his days as
chief of Goldman Sachs, to run the US government's $700bn (€518bn,
£402bn) plan to purchase troubled assets from financial -institutions.

Mr Kashkari is one of the US Treasury secretary's closest policy
advisers, first taking a lead role in developing the departments
response to the housing -crisis and then emerging as the point-person
on the bail-out.



Lustre comes off Goldman alumnus
By James Politi in Washington

Published: September 30 2008 03:00 | Last updated: September 30 2008
03:00

The Treasury department team that worked on the final details of the
bail-out legislation that was rejected by the US Congress yesterday
included the administration's latest Goldman Sachs alumnus.

Edward Forst, a former colleague of Hank Paulson, Treasury secretary,
at Goldman, joined the government on a temporary basis about 10 days
ago and has since been involved in the technical details of how the
$700bn (£380bn) plan to buy troubled assets would work.

Mr Forst's move to become a Treasury adviser was first reported on
ft.com (the Financial Times' website) on -Friday.

Mr Paulson has often turned to former Goldman executives for advice
since 2006, when he moved to Washington to join the administration,
leaving his post as chairman and chief executive of the New York-based
bank.

In another recent example, Mr Paulson in August tapped Ken Wilson, a
veteran investment banker at Goldman, to help the US navigate the
financial crisis.

Mr Forst was global head of Goldman's investment management division
until June, when he announced he was leaving to become -executive vice-
president at Harvard.

He is classified as a "contract employee" at the Treasury and will be
paid $5,000 for the assignment.

Although Mr Forst is expected to return to Harvard within a matter of
weeks, his presence at Treasury had raised speculation that he could
eventually be chosen to run the $700bn plan.

He might work alongside Karthik Ramanathan, another former Goldman
banker who has been at the Treasury for three years and was recently
appointed to the role of acting assistant secretary for financial -
markets.

Copyright The Financial Times Limited 2008

edspyhill01@yahoo.com wrote:

>Paulson protégé to run bail-out
>By James Politi in Washington
>
>Published: October 7 2008 03:00 | Last updated: October 7 2008 03:00
>
>Hank Paulson has appointed Neel Kashkari, a protégé from his days as
>chief of Goldman Sachs, to run the US government's $700bn (€518bn,
>£402bn) plan to purchase troubled assets from financial -institutions.
>
>Mr Kashkari is one of the US Treasury secretary's closest policy
>advisers, first taking a lead role in developing the departments
>response to the housing -crisis and then emerging as the point-person
>on the bail-out.


Wouldn't you use someone you've known and trusted for a while to
implement your plan? Or would you just take whoever someone else told
you to use?

--
"In war, the stronger overcomes the weaker. In business, the stronger
imparts strength to the weaker." ~ Frederic Bastiat

On Oct 9, 3:17*pm, "badgolferman" <REMOVETHISbadgolfer...@gmail.com>
wrote:
> edspyhil...@yahoo.com wrote:
> >Paulson protégé to run bail-out
> >By James Politi in Washington
>
> >Published: October 7 2008 03:00 | Last updated: October 7 2008 03:00
>
> >Hank Paulson has appointed Neel Kashkari, a protégé from his days as
> >chief of Goldman Sachs, to run the US government's $700bn (€518bn,
> >£402bn) plan to purchase troubled assets from financial -institutions.
>
> >Mr Kashkari is one of the US Treasury secretary's closest policy
> >advisers, first taking a lead role in developing the departments
> >response to the housing -crisis and then emerging as the point-person
> >on the bail-out.
>
> Wouldn't you use someone you've known and trusted for a while to
> implement your plan? *Or would you just take whoever someone else told
> you to use?
>
> --
> "In war, the stronger overcomes the weaker. In business, the stronger
> imparts strength to the weaker." ~ Frederic Bastiat

Sure. And if I'm a sleazebucket crook, if I've been bilking people so
long I'm not aware of it, I'd bring on my crooked friends.

These are the same boneheads that got us into this disaster. They
will bailout there cohorts and steal big chunks of the money.

bagman, I'm about to put you in the list with Snott and others.

edspyhill01@yahoo.com, 10/9/2008,5:08:03 PM, wrote:

> bagman, I'm about to put you in the list with Snott and others.

Thank you for the honor of being included with the elder statesmen of
the group. Although I don't have the experiences they do I try my best
to bring something different to the conversation.

On Oct 9, 6:12*pm, "badgolferman" <REMOVETHISbadgolfer...@gmail.com>
wrote:
> edspyhil...@yahoo.com, 10/9/2008,5:08:03 PM, wrote:
> > bagman, I'm about to put you in the list with Snott and others.
>
> Thank you for the honor of being included with the elder statesmen of
> the group. *Although I don't have the experiences they do I try my best
> to bring something different to the conversation.

Puh-leeze. The big 5 can't write a 500 word essay that would get a
passing grade in an 8th grade English class. You all spout little
phrases that barely require punctuation.

edspyhill01@yahoo.com, 10/9/2008,9:05:45 PM, wrote:

> On Oct 9, 6:12*pm, "badgolferman" <REMOVETHISbadgolfer...@gmail.com>
> wrote:
> > edspyhil...@yahoo.com, 10/9/2008,5:08:03 PM, wrote:
> > > bagman, I'm about to put you in the list with Snott and others.
> >
> > Thank you for the honor of being included with the elder statesmen
> > of the group. *Although I don't have the experiences they do I try
> > my best to bring something different to the conversation.
>
> Puh-leeze. The big 5 can't write a 500 word essay that would get a
> passing grade in an 8th grade English class. You all spout little
> phrases that barely require punctuation.


Who are the Big 5?

--
"Be careful of your thoughts; they may become words at any moment." ~
Ira Gassen