News and Politics | November 11, 2008 | 34 comments

Bailout chief gets snippy with reporters

source: http://www.huffingtonpost.com/2008/11/11/neel-kashkari-bailout-cza_n_142916.html

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synclaire
To see Neel Kashkari field questions from a crowded room, one might think he's still being paid by Goldman Sachs rather than American taxpayers.

The interim assistant secretary of the Treasury for financial stabilization yesterday had a tone of impatience during a question-and-answer session, leaving some attendees feeling cheated.

The Q&A followed a keynote speech that Kashkari gave at a conference in Midtown Manhattan, which was attended by hundreds of financial executives.

When it came time for questions, the former Goldman Sachs executive told the eager audience that he had time for just "two or three."

In response to the first question, about the government's latest lifeline for beleaguered insurance company American International Group, Kashkari gave a clipped response before quickly moving on.

"This morning's action at AIG was a one-off event" that was necessary for the financial stability of the markets, he said. "He didn't say anything that I couldn't have learned from going to the Web site," griped one mortgage entrepreneur. Treasury spokeswoman Jennifer Zuccarelli said it's not unusual for public officials to answer a few questions before moving on. Kashkari's impatient tone comes amid a growing desire for openness about how government agencies, including the Treasury, are handling billions of taxpayer dollars being used to prop up Wall Street.

Yesterday's news that the Treasury and Federal Reserve increased the size of American International Group's rescue to around $150 billion from $123 billion intensified concern that Uncle Sam isn't spending wisely.

Meanwhile, Bloomberg News sued the Federal Reserve for information under the US Freedom of Information Act, claiming the Fed refuses to identify the recipients of almost $2 trillion of emergency loans as well as the troubled assets the bank is accepting as collateral.
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34 comments // Bailout chief gets snippy with reporters

  • nessie00
    • 0
      nessie00  

    • The bailout chief needs to bailout of his job. He knows they are not working and I don't believe he knows the solution. I'd be testy too iif I had bungled this bailout as he has done. His true arrogance showed through.

    • 3 years ago
  • samthesixth
  • Moopak
    • 0
      Moopak  

    • Well, at least he's talking to reporters about it. . .

      I would be "snippy"

      too. From sheer stress, aggravation and lack of sleep (not to mention guilt!).

      Be snippy, be something, anything, just give the citizen tax payers something!!

    • 3 years ago
  • keeshii768
  • bedeboop
  • hapykap
    • 0
      hapykap  

    • He knows they are doing things illegal.

      In the behind the scenes meeting he got the short end of the stick and had to go out and meet the press.
      This guy has got to get some PR Skills...

      What the Fed can and are getting away with is totally illegal. Their charter was never ratified by the majority of congress in 1914 during a pre-Christmas session of congress.

      What a Wicked Web they Weave.

      Live Learn Love Grow Evolve, Create-Greatness and give it away...

    • 3 years ago
  • grease_weasel
  • YesWeDid
    • 0
      YesWeDid  
    • Image

    • I knew I've seen this guy somewhere before!!! Damn, Bush has gotten so desperate he is now conjuring the undead. Hope Brandon Fraser doesn't get in the way.....or do I?

    • 3 years ago
  • SDLN
  • WhiteNoise
    • 0
      WhiteNoise  

    • A Quiet Windfall For U.S. Banks
      With Attention on Bailout Debate, Treasury Made Change to Tax Policy
      The financial world was fixated on Capitol Hill as Congress battled over the Bush administration's request for a $700 billion bailout of the banking industry. In the midst of this late-September drama, the Treasury Department issued a five-sentence notice that attracted almost no public attention.
      http://www.informationclearinghouse.info/article21201.htm

    • 3 years ago
  • keithponder
  • barbara3d
    • 0
      barbara3d  

    • nufsenuf: This thread will help you see how most of us feel about the raping and pillaging of the economic system right under our eyes, like we dont even matter. TWO TRILLION without being told anything. 750 Billion initially. And the money is being printed,no gold backing which a lot of bankers dont even know. the dollar will be worth a nickel if this continues. Banks thumbing their noses and doing just what they please with billions after billions. Now we are paying off sub prime mortgages. We are in dangerous territory of descendiing into a Great Depression. As I said....watch the dominoes fall along with the Dow. Some people predicting with all this loss of confidence in the dollar....we could be looking at 60% losses of wealth.

    • 3 years ago
  • IMMININT
  • IMMININT
  • meretricis
  • pokesmot
  • WhiteNoise
  • Ish05
  • Justinb
  • WhiteNoise
    • 0
      WhiteNoise  
    • Image

    • "The issue which has swept down the centuries and which will have to be fought sooner or later is the People vs. The Banks." -- Lord Acton, Lord Chief Justice of England, 1875

      "History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it's issuance." -- President James Madison

    • 3 years ago
  • WhiteNoise
    • 0
      WhiteNoise  

    • "Whoever controls the volume of money in any country is absolute master of all industry and commerce." - President James A. Garfield

      "It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford

      "I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power of money should be taken away from the banks and restored to the people to whom it properly belongs." - President Thomas Jefferson

    • 3 years ago
  • Argon18
    • 0
      Argon18  

    • It does strike me as odd that it was described as "snippy" maybe the term "uppity" is too far against PC nowadays?

      But perhaps a better description would be "brash, brazen, cheeky, impertinent, impudent or insolent" since those seem more accurate.

      Probably tried those tactics to try and distract from the question but hopefully Bloomberg will uncover the facts

    • 3 years ago
  • WhiteNoise
  • rossao
    • 0
      rossao  

    • Hopefully, Obama will pick someone more compassionate and understands that ITS OUR FUC**** MONEY!!! So, answer the damn question!
      ........ or Ya' fyred!

    • 3 years ago
  • revolutioninamerica
  • maasanova
  • Ayahuasca2012
    • 0
      Ayahuasca2012  

    • Screw this guy.

      You won't account for where you spend my money you better be prepared to face the consequences of your actions when we find out where it went...

      Karma is a bitch... and I have a feeling he's going to be getting a heaping dose of it someday.

    • 3 years ago
  • huntre
    • 0
      huntre  

    • This man has a full blown fear of this thing we keep hearing about called transparency.
      It just does not compute.

    • 3 years ago
  • Armageddon_Now
  • isnamthere
  • synclaire
    • 0
      synclaire  

    • Why oh why did congress listen, once again, to chicken little and the wall street con-artists to bailout billionaires and give them bonuses? Not to mention the repealing of the tax shelter law. Congress...workin' for us! Yeeehaw! meh.

    • 3 years ago
  • riffhard98
  • barbara3d
  • alicynx
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