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Good Luck, Neel Kashkari

Posted on October 06, 2008

A tough job: Bloomberg.com: The U.S. Treasury will name Neel Kashkari, assistant secretary at the department, to run the $700 billion Wall Street rescue program on an interim basis, according to a Treasury official. Kashkari will be designated the interim head of the new office of financial stability, created in the bailout legislation Congress passed last week. The Treasury aims to buy troubled assets such as home loans and mortgage-backed securities from banks and other financial institutions in an effort to shore up global credit markets. The Treasury said specifics on how the debt-buying o...

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housing , treasury secretary