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By Carol Eisenberg - October 7, 2008

A 35-year-old former vice president at Goldman Sachs has been tapped to manage the $700-billion bailout.

Neel T. Kashkari
Neel T. Kashkari

Neel T. Kashkari, one of Treasury Secretary Henry Paulson’s advisers and a longtime protege who shares his boss’s Midwestern origins and Yul Brynner look, was named yesterday interim head of the Treasury Department’s new Office of Financial Stability.

In his new job, the aerospace-engineer-turned-banker will oversee the potential purchase of nearly a trillion dollars worth of bad loans and mortgage-backed securities from banks and other financial institutions as part of the government’s bid to end the turmoil roiling global financial markets.

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Recent Stories
No more freebie club memberships for Supremes, federal judges
October 7, 2008 at 2:21pm

The perks of being a federal judge just got fewer.

She knows mavericks, and John McCain, you’re no maverick
October 7, 2008 at 10:59am

Terrellita Maverick is upset that Sen. John McCain and his campaign have appropriated the family name.

Sarah Palin reads the New York Times
October 7, 2008 at 10:26am

Evidently, the McCain-Palin campaign didn’t cancel its subscription to The New York Times despite its accusation last month that the newspaper was “150 percent in the tank” for Sen. Barack Obama, the Democratic candidate.

Henry Paulson’s $700-billion man
October 7, 2008 at 10:20am

A 35-year-old former vice president at Goldman Sachs has been tapped to manage the $700-billion bailout.

Real estate


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Robert M. Sandler retired as an executive vice president from American International Group in April – less than six months before the insurance giant was rescued from the brink of collapse by an $85-billion federal bailout. Earlier this week, Sandler and his wife, Annette, paid $3.45 million in cash for a three-bedroom coop at 150 Central Park South.

Video

Homer Simpson: another frustrated voter

Homer Simpson’s choice for the next president of the United States has leaked to the internet.

According to a clip from an upcoming episode of Fox’s long-running cartoon, The Simpsons, Homer’s endorsement is for Barack Obama.


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