Latest news:

“Neel Kashkari, the Treasury’s assistant secretary for international affairs, was selected Monday to be the interim head of Treasury’s new Office of Financial Stability.

The designation was made by Treasury Secretary Henry Paulson, who was the head of Goldman Sachs before he joined the Bush administration in 2006. Kashkari, 35, will head the office created by the emergency legislation enacted Friday to fund the largest government bailout in history…”

Comment:

Kashkari worked for Goldman as a Vice-President. How brazen can they get?

Side-note: he has a connection to NASA.  That is, he’s a rocket scientist turned investment banker.

Rocket science. Hmmm…wasn’t it top-heavy math which got LTCM into that mess in 1998? And isn’t top heavy math a part of the problem today? Not enough banks have the money to hire the people who understand the most complex finance, and that’s why they let a lot of things through they should have checked. So, you have a Goldman quant who’s been vetted at the highest level of security, who has a background in defense and information technology in the key financial position.

Update: The are now four Goldman execs working on the crisis , Dan Jester and Ken Wilson, both financial institutions bankers, and Steve Shafran, who focused on corporate restructuring while at Goldman. Others on the team who are not from Goldman are: Anthony Ryan, the assistant secretary for financial markets; David Nason, assistant secretary for financial institutions; and Bob Hoyt, Treasury’s general counsel.

CALL CONGRESS AND TELL THEM GOLDMAN SACHS OUT OF THE US GOVERNMENT