Hank Paulson’s Mini-Me, I mean, Neel Kashkari, has been hiding under a rock lately, it seems. (To give you an idea of how long it’s been since I really saw Kashkari, Brad Walker emailed me this pic of a non-Paulson Kashkari lookalike a full month ago and I had to wait this long to break it out.) He finally surfaced today to give testimony to Congress about that whole messy issue of why a troubled asset relief plan wouldn’t buy any troubled assets and was instead just subsidizing bank buyouts. Oh, and hey, guess what, Treasury is making capital injections into 20 more banks today that in no way consist of buying troubled assets.
When asked whether or not any actual foreclosures would be presented, considering that this plan was marketed as a way to take bad morgtages off the banks’ books long enough to see if anyone would actually pay them, and to maybe help out a homeowner here or there, Kashkari offers us this bit of nonspecific twaddle:
Mr. Kashkari said Treasury continues to focus on the foreclosure issue and said Mr. Paulson is “passionate” about preventing foreclosures. “We are using every tool at our disposal to get at this problem,” Kashkari told lawmakers.
That’s right, folks, he’s passionate. He will get down on his knees not just to Nancy Pelosi but to every lender in the country to save your homes.
Best line of the day goes to Rep. Kucinich, of whom I am usually not a fan but you have to look at this one and admit the man got in one heck of a zinger in the whole why-did-we-pay-PNC-to-eat-up-National-City debate:
“I don’t think it’s a good use of taxpayer money to put taxpayer capital into a financial institution that is going to fail,” Mr. Kashkari said.
Mr. Kucinich fired back to Mr. Kashkari, “That statement that you just made you will hear about for the rest of your career.”
DENNIS. YOU WENT THERE. I suppose that this line would’ve been followed by a hair-pulling girlfight, if Kashkari had any hair.
CB // Nov 14, 2008 at 3:46 pm
The pictures…oh my god…lol
I wonder what Kash is thinking about in that picture. Those eyes.
Jason // Nov 14, 2008 at 3:50 pm
I suspect he is thinking, as he always does, “Who broke my nose?”
Lolo, ESQ // Nov 14, 2008 at 11:56 pm
i’d let him TARP my ass
Jason // Nov 15, 2008 at 10:55 am
I never knew you had a thing for Imhotep.
zz // Nov 15, 2008 at 11:42 pm
Rep. Cummings of Baltimore, this guy is criminally uneducated, pandering to emotions rather than scrutinizing the questioner. After the first round of questioning, it became apparent that the whole testimony was nothing but a charade masqueraded by the officials to bluster and appear as if they are caustically fighting for the “average” citizen. They went on and on with specific examples of how their constituents are suffering and sophomorically dallying around trivial matters of financial market while entirely avoiding asking any meaningful question from Kashkari. I watched Kashkari’s eyes popping out in disbelief that how these buffoons are not even bothering asking him any pertinent question what so ever only to condescend him with snide array of misplaced rage.
This obsession by our leaders to keep homeowners in their home will mark the end of whatever is left in this country resembling prudence and morality. I support saving all homeowners not just the irresponsible 3 million living in Mcmansions.
Congress and Sheila Bair’s obsession with this spend-only bailout rewards the reckless and punishes the prudent. Consider the lesson it imparts to promote bailouts to the reckless. City by city, neighborhood by neighborhood, people who live beneath their means and manage money carefully will see more careless neighbors supported by federal decree. And what about the 30 percent of this nation who were smart enough to rent? Or how about the large percentage of us who gave plenty of warnings to these same people the government now wants to redistribute my taxes to so they can stay in a house twice the size the home I live in. The backlash to the 700 B bailout package was not only because of the bailout of wall street but also the bailout of the reckless homeowners and their relentless ATM / HELOC spending. As it is now these people can live in their home for over a year rent free while they find a home they should have been living in from the start.
We are becoming a nation of people who feel it is not only okay but justified to cheat, lie, and swindle each other and the rest of the population. Personal responsibility is discouraged by the government and the mainstream media. Our nation is eating ourselves from within just to keep a facade of prosperity. Hope is being replaced by anger and desperation. Welcome to the new dawn.
Lolo, ESQ // Nov 16, 2008 at 8:00 am
^^^ woW words words words you could have just said SEE: ANT GRASSHOPPER FABLE
Randooomaaaayz // Nov 16, 2008 at 9:44 pm
It’s Lex Luthor!
Sam the Eagle’s Evil Twin | The-Informer // Nov 19, 2008 at 8:47 pm
[...] can’t believe I never noticed the resemblence. Hat tip LOLFed.com and Business [...]
LOLFed » LOLFed Friday Morning Financial Fun // Nov 21, 2008 at 9:50 am
[...] Kashkari voted one of the sexiest men alive. IDK, not really into Sam The Eagle. Wonder if People Magazine got some dollars at the TARP for including him? Print is dead. [...]