35 year old GS punk runs the show. Let's see how fast he pays back his pals.

[Neshanic]

Treasury to Invest in `Healthy' Banks, Kashkari Says

Oct. 13 (Bloomberg) -- Neel Kashkari, the U.S. Treasury official overseeing the $700 billion rescue of the financial system, said government equity injections will be aimed at ``healthy'' firms.

``We are designing a standardized program to purchase equity in a broad array of financial institutions,'' Kashkari, who heads the department's Troubled Asset Relief Program, said in a speech in Washington. ``The equity purchase program will be voluntary and designed with attractive terms to encourage participation from healthy institutions.''

Another Goldman Sachs punk.

[Triana]

1. That was my thought exactly. He and Paulson both - robbers.

And isn't having EITHER of them involved in our federal treasury a conflict of interest? :wtf:

[Eric J in MN]

2. They're buying buying $10 billion of Goldman Sachs preferred stock with public money.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4232563&mesg_id=4232563

[Leopolds Ghost]

6. Sickening. And the Democratic leadership is complicit.

Isn't Corzine a former Goldman Sachs CEO?

[Eric J in MN]

8. wikipedia says that Jon Corzine was co-CEO with Henry Paulson. NT

NT

[Octafish]

3. The guy made a name for himself in computers.

Gee. That's mighty handy, when it comes to Big Money.

Elections, too.

[matt819]

4. Follow the money - literally

Were there any restrictions in the socialist overhaul package that prevented these government officials from following the money into these banks once they are booted out of office?

[Neshanic]

5. And what "Healthy institutions" would that be? Hmmmm?

[Leopolds Ghost]

7. It is a LIE -- the purpose of TARP is to assist BoA, GS, etc. in criminal conspiracy

To cover up the extremely toxic assets on their books (derivatives, etc.) -- the very thing Eliot Spitzer prosecuted and Worldcom was brought down for, Washington, as a shareholder in these firms, will have a financial interest in helping them commit fraud in financial exclosure.

They even had a guy on CNBC saying the Feds should break the bank of Moody's et al. because their accounting downgrade of toxic assets from "AAA" to something else "caused the crisis." "We took down Arthur Andersen for much less" he said.

[leftofthedial]

9. his stinks to high fucking heaven.

god damned crooks need to be schooled. Harshly.

[BobTheSubgenius]

10. Am I missing something?

Taking that statement at face value....I'm left wondering why a "healthy" bank would need capital.

Perhaps it's the hour and the anejo.

[Eric J in MN]

11. I guess the argument from the Treasury Dept is something like...

...we are wise enough to realize how-healthy corporations which own mortgage-related securities are.

However, the private sector mistakenly thinks that corporations which own mortgage-related securities (which may be worthless) could go bankrupt.

But if we give money to those healthy corporations, then the private sector won't worry about the mortgage-related securities, and the private sector will lend them money.