I've said several times in this blog that the only thing that government did (Bush or Obama) in the midst of the financial melt-down that actually had ANYTHING concrete to do with the current recovery was the bank bail-out--otherwise known as TARP. Moving to ensure liquidity and keep the system from imploding upon itself set the basis for the slow unwinding of the markets we've seen since March. House Republicans walking away from the initial version of it was a dark day for the party.
In this WaPost portrait--Neel Kashkari--the man Hank Paulson called upon to devise and administer TARP--is featured. This is the story of a man who worked his ass off for the good of the country, only to be savaged by the preening ponies of the Congress. Kashkari has dropped out of site to the woods of Northern California to rebuild himself, his marriage, and his life. This is a man who deserves praise for a job well-done.
Sunday, December 6, 2009
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2 comments:
I agree with your assessment (but would have preferred letting some of the bigger toxic offenders die). If neither Kashkari nor Bernanke make TIME's "Person of the Year" short list, it will be a glaring omission.
Both very well may have prevented the US (and the globe) from plunging into a prolonged financial catastrophe (only to have Congress bring us to the brink again).
Interesting last name for a guy charged with the duties he had.
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