Kashkari Throws A Big TARP Over Everything

[Are_grits_groceries]

Not really anything new this morning, but a lot of words from, and a standing ovation for, bailout czar Neel Kashkari. All CNBC wants to hear is HAY OK I GIVES YOU MONEYS NOW, which he did NOT come out and say this morning. But if you are interested, he did lay out the seven (yeah, now there are seven) major prongs of the bailout plan:

1) Mortgage backed securities purchase program (give us ur poor, ur tired, ur subprime securitiez yearning to breathe free)

2) Whole loan purchase program (hay, treasury can buy moar housez!!1)

3) Insurance program (im in ur treasury, lookin for ways to back #1 and #2 for teh bankz)

4) Equity purchase program (goin to teh market, buyin up bank stocks!@)

5) Home ownership program (can haz HOPE NOW!)

6) Executive compensation (iz tarp, not golden parachute, thx)

7) Compliance (Ceiling Cat is watchin ur bailout)

If you really like words, WSJ has transcribed the entire speech and you can read it here. And as an aside, wow, there are not many pictures of Neel Kashkari to work with. If he’s going to be on television a lot, the news agencies really need to get me more candids of him. Like Jason said, this applies to Hank Paulson too.

http://lolfed.com/page/2/

At least Ceiling Cat is watching.