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’Pimco hires Kashkari
Neel Kashkari, who ran the US government’s $700bn Tarp scheme during the Bush administration, has joined Pimco, the asset manager specialising in bonds. The move is likely to provoke criticism of the “revolving door”
Pimco hires Neel Kashkari
Pimco, the world’s largest bond fund, has hired Neel Kashkari – the man best known for being put in charge of the US Treasury’s $700bn bailout plan at the tender age of 35.
Dealbreaker has the Pimco memo announcing the hire in full;
Breaking Neel down, inter alia
Fox News has heard back from the US Treasury – which has complied with the television network’s freedom of information request and released some 10,000 pages of documents relating to the US government’s bank bailout initiatives.
GAO to Paulson: Must do better
Government Accountablity Office has just published its take on the Tarp, which can be summed up in ten of the GAO’s own words: “Additional Actions Needed to Better Ensure Integrity, Accountability, and Transparency”.
Guess the Kashkari
News today that Neel Kashkari, the US Treasury’s bailout administrator, has been voted the sexiest money man alive.
So we’ve put together a montage in Mr Kashkari’s honour. Two of the below photos are the bailout man himself.
Terpology
Here’s one, rather immediate, consequence from Paulson’s changing of the Tarp yesterday.
The decision not to use taxpayer funds to mop up illiquid mortgage assets resulted in this market reaction: ABX indices (based on CDS for tranches of subprime mortgage-backed securities) unsurprisingly cliff-diving,
Kashkari on the bailout
“Bailout Tsar” Neel Kashkari is speaking from Washington at a press conference on the Tarp.
The aim of the exercise seems to be to try and demonstrate just how much has been done on the bailout plan behind the scenes over the past week.
Kashkari: What’s in a name, an age, an affiliation?
Far be it for FT Alphaville to be ageist – or “name-ist” for that matter. But we can’t help noting some of the bemused reactions to news that US Treasury secretary Hank Paulson is expected to put 35-year-old Neel Kashkari,