What are Banks Doing with the Bailout Money? – Neel Kashkari

Complete video at: http://fora.tv/2009/01/13/Neel_Kashkari_on_the_Market_Crisis_and_Asset_Relief

Treasury Department official Neel Kashkari answers key questions about the state of banking and the capital investments made by the Troubled Assets Relief Program (TARP). He also predicts future activity in lending and consumer confidence.


Neel Kashkari, assistant secretary for financial stability at the U.S. Department of Treasury, addresses the federal government’s effort to strengthen the financial sector through purchase of assets and equity from financial institutions in the wake of the subprime mortgage loan crisis.

Neel Kashkari was designated as the Interim Assistant Secretary of the Treasury for Financial Stability on October 6, 2008. In this capacity, Mr. Kashkari oversees the Office of Financial Stability including the Troubled Asset Relief Program.

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.



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