Not really anything new this morning, but a lot of words from, and a standing ovation for, bailout czar Neel Kashkari. All CNBC wants to hear is HAY OK I GIVES YOU MONEYS NOW, which he did NOT come out and say this morning. But if you are interested, he did lay out the seven (yeah, now there are seven) major prongs of the bailout plan:
1) Mortgage backed securities purchase program (give us ur poor, ur tired, ur subprime securitiez yearning to breathe free)
2) Whole loan purchase program (hay, treasury can buy moar housez!!1)
3) Insurance program (im in ur treasury, lookin for ways to back #1 and #2 for teh bankz)
4) Equity purchase program (goin to teh market, buyin up bank stocks!@)
5) Home ownership program (can haz HOPE NOW!)
6) Executive compensation (iz tarp, not golden parachute, thx)
7) Compliance (Ceiling Cat is watchin ur bailout)
If you really like words, WSJ has transcribed the entire speech and you can read it here. And as an aside, wow, there are not many pictures of Neel Kashkari to work with. If he’s going to be on television a lot, the news agencies really need to get me more candids of him. Like Jason said, this applies to Hank Paulson too.
Lolo, ESQ // Oct 13, 2008 at 8:03 am
seven prongs? is that the fork i use with the shrimp or the salad?
alyx // Oct 13, 2008 at 8:13 am
I think it’s the one you use for pork.
Jason // Oct 13, 2008 at 8:54 am
Jeez, I have to work one morning and Mini-Hank goes nuts.
Emma Anne // Oct 13, 2008 at 9:01 am
Hey, Krugman just won the Nobel. Lots of pictures of him.
Kashkari Throws A Big TARP Over Everything | Home Equity Loan Blog // Oct 13, 2008 at 10:35 am
[...] View original post here: Kashkari Throws A Big TARP Over Everything [...]
The Bankster Wars « The Hedonistic Pleasureseeker // Oct 22, 2008 at 11:19 am
[...] (LOLFED) [...]
LOLFED » IT’S A TARP! Troubled Asset Recovery Program? O RLY? // Nov 6, 2008 at 10:41 am
[...] Neel Kashkari takes the helm at TARP [...]
billgates // Jan 17, 2010 at 8:43 am
he is a donkey of usa ??