Image Credit-US Treasury

A couple of weeks back, Hank Paulson, the US Secretary announced to the world his famous rescue package and demanded the approval of the Senate in US. A week later, the Senate voted for the biggest rescue package ever – A cool $ 700 Billion for reviving the fate of America.

Two people fought hard for the bail out – Hank Paulson and Ben Bernanke besides many others who supported the cause. Immediately after Senate passed the bill, Hank & his partner Ben swung into action and released the name of the person who would lead the effort of rescuing the financial institutions.

It was none other than Neel Kashkari – also nicknamed as “Kash & Karry” . Neel Kashkari has ben appointed as the Head of “Office of Financial Bailout”. As per Washington Post, Kashkari has been a close adviser to Treasury Secretary Henry M. Paulson Jr. on the credit crisis and helped draft the legislation for the massive rescue plan. He is expected to run the program on an interim basis until the Treasury finds a permanent head.

Neel Kashkari is a former vice president at Goldman Sachs, where he led the firm’s security investment banking practice. Neel graduated from Western Reserve Academy, a private college prep boarding and day school in 1991.

As per the US Treasury website

Neel Kashkari is Senior Advisor to U.S. Treasury Secretary Henry M. Paulson, Jr. He provides counsel to the Secretary on key policy matters.

Prior to joining the Treasury Department, Mr. Kashkari was a Vice President at Goldman, Sachs & Co. in San Francisco, where he led Goldman’s IT Security Investment Banking practice, advising public and private companies on mergers and acquisitions and financial transactions. Prior to his career in finance, Mr. Kashkari was a R&D Principal Investigator at TRW in Redondo Beach, California where he developed technology for NASA space science missions such as the James Webb Space Telescope.

Originally from Stow, Ohio, Mr. Kashkari graduated from the University of Illinois at Urbana-Champaign with a Bachelor’s and Master’s degree in Engineering. He also received an M.B.A. in Finance from the Wharton School. Mr. Kashkari and his wife Minal maintain residences in Maryland and California.

If you have not seen him talk earlier, you can have a glimpse of him speaking in the video . Here he makes a presentation on a proposed “Covered Bond”. This video was covered by C-Span

We sure have someone whom we can look forward to probably restoring sanity in the market by quickly implementing the $700 Billion rescue plan.

All the very best, Neel !

By the way, does he look like Andre Agassi ?

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