Neel Kashkari
Neel Kashkari has been named by Treasury Secretary Henry Paulson to run the country's $700 billion financial stabilization program, which will be known as the Office of Financial Stability. Prior to running the program, Kashkari was an assistant secretary for international economics and development at the Treasury, as well as a senior adviser to Paulson. Kashkari was one of the officials who negotiated the proposal to buy bad mortgages from financial companies. His term is expected to end when President George W. Bush leaves office.1
Fast Facts
- 35 at time of decision1
- Was nominated by Bush2
- Graduated from University of Illinois with Bachelor's and Master's in Engineering3
- Received M.B.A. in Finance from Wharton School3
- Former president at Goldman Sachs & Co., where he advised companies on mergers and transactions1
- Used to develop technology for NASA space science missions2
- Married to Minal3
- Parents are Chaman and Sheila2
The Bailout Plan
Kashkari said that the Treasury Department formed seven teams to enforce the Emergency Economic Stabilization Act of 2008. The teams will focus on buying assets and implementing regulations, among other stabilizing steps. The main goal of the department is "to restore capital flows to the consumers," added Kashkari.4
Related Pages on Mahalo
Mortgage Bailout Plan | Bailout Bill Text | Bailout Bill Rejected | Bailout Bill Pork | President Bush Bailout Speech | Senate Bailout Vote | Henry Paulson | Office of Financial Stability | Tom Bloom | Neel Kashkari Chump
Latest News on the Financial Crisis
Treasury Department investing $250 billion in banks
$700B bailout bill passes Congress
FDIC recommends hike
Bailout bill text
Emergency Economic Stabilization Act of 2008
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