From McCotter’s Office:

INTERNATIONAL BUSINESS TIMES

Kashkari to head office for $700 billion bailout rescue

Treasury Secretary Henry Paulson announced Monday that Neel Kashkari, Treasury’s assistant secretary for international affairs and a former Goldman Sachs Inc. banker, will act as the interim head of the new Office of Financial Stability, a new office within the Treasury, according to an unnamed official the Associated Press reported.

The new office was created by the emergency legislation enacted Friday to implement the Troubled Asset Relief Program, which will oversee Treasury’s effort to buy bad loans and other distressed securities of financial institutions.

The 35-year-old Kashkari is a former Goldman Sachs Inc. banker in San Francisco, the investment giant once headed by Treasury Secretary Henry Paulson. to fund the largest government bailout in history.

RepMcCotter

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