CITI tries to raise cash…PEBO to keep Kashkari on for TARP…(Congressional Critters Heads explode/snark off)

Well, this is unbelievably tone-deaf IMO. They are off their game at Camp PEBO…Congressional Dems (or GOP for that matter) cant STAND Kashkari or anything having anything to do with Paulson and the switch n bait anything but housing approach of TARP. It needs a new face, and Geithner and Summers ain’t new. Send Sheila Bair, we all love Sheila Bair :0)

From WSJ:

Timothy Geithner, President-elect Barack Obama’s pick for Treasury Secretary, has asked Neel Kashkari and James Lambright to remain with the Obama team for several weeks to assist with the transition, these people said.

The decision to keep two members of Treasury Secretary Henry Paulson’s team, even for a short period, could rile lawmakers angry over Mr. Paulson’s handling of the $700 billion bailout. The Obama administration is working to revamp the financial rescue and erase some of the stigma associated with the bailout.

Oops! no idea how that got in there, maybe b/c Prince John and Cousin Hiss remind me of Hank Paulson and Neel Kashkari…..(courtesy of Walt Disney and loubear)

Paulson and later the ever-polite, self-effacing henchman Kashkari (another Golden Slacks, I mean Goldman Sachs executive) who appeared on the Hill with absolutely no good reason why they would not implement Sheila Bair’s (of FDIC) housing plan…

Wow, really, this is in error. Just today Barney Frank was appearing on CNBC, see our video sidebar, talking about the implementation of new harsh requirements to access TARP Tranche Deux by the incoming Administration.

They were burned BAAAD in the long con by Hank and now they have to see Kashkari again? We need the damn thing to pass! Oh good gawd, anything Kashkari presents is going to be slammed down HARD by these Congress Critters and who the hell can blame them?

(more videos of Kashkari before Congress after the break)

(AP-Lauren Victoria)

Thursday, Sept. 25, 2008 in Washington. At left is Treasury Department Assistant Secretary Neel Kashkari who has been selected to head the Treasury's new Office of Financial Stability. (AP-Lauren Victoria)

They were sold a bill of goods. All their constituents are pixxed as hell. The banks are yes in large part sitting on the money they could be using for consumer lending purposes..their loans have been commercial for the most part and they have not moved on the mortgage modifications requested and suggested by Fed, Treasury and FDIC. Wink, wink, nudge, nudge says Paulson to his friends in the big financials.

PEBO’s other johnny on the spot for finance, his Treasury Secretary Tim Geithner, while a well liked pick, is ALSO personally a symbol of disfavor for Congressional Dems due to the complete failure of CITI, despite the Billions the NY FED, under Tim Geithner poured into it.

Late today, wires reported Citigroup is seeking a ‘joint financial venture’ ir partial sale of its assets, its brokerage group, to Morgan Stanley. Whoa! That will likely kill Citigroup. It is their only profitable unit right now.

Charlie Gasparino of CNBC reports on Fast Money tonight that this is Pandit bowing to orders from Uncle Sam (who is now a part owner.)  Guess Bob Rubin didn’t like the news, he had resisted this and he sat on the Board as adviser when increased risk led to the implosion, for which he earned $115 million dollars, yes in 8 short years. Despite the company imploding and sucking up all our taxdollars with it. ..

But fear not Angry taxpayer!! Chuck Schumer told Dylan Ratigan on Fast Money on CNBC yesterday that Congress intends to pursue a clawback provision in any legislation coming down the pike, wherein the big financials that took the first 350 Billion can agree to the terms, OR give back all our money! :0)

See our previous posts on TARP, Sheila Bair, Kashkari and CITI here and here and here and here and even here

Hell, go to the search button and put in FDIC or CITI on our home page, we love to talk about this as you can see!!

January 9, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , , , . Cabinet, CITI, citigroup, Economy, FDIC, Finance, Foreclosures, Hillary Clinton, Housing, Labor Department, Obama Administration, Politics, TARP, Unemployment Statistics, Wall St.

3 Comments

  1. Geithner in the Hot Seat… « Moderate in the Middle replied:

    […] or as we at MiM call it – “fix housing!- Duh!” here and here and  here and here and here and here and here and here and here and here and even […]

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  2. » CITI tries to raise cash…PEBO to keep Kashkari on for TARP…(Congressional Critters Heads explode/snark off) replied:

    […] justbkuz wrote an interesting post today onHere’s a quick excerpt Well, this is unbelievably tone-deaf IMO. They are off their game at Camp PEBO…Congressional Dems (or GOP for that matter) cant STAND Kashkari or anything having anything to do with Paulson and the switch n bait anything but housing approach of TARP. It needs a new face, and Geithner and Summers ain’t new. Send Sheila Bair, we all love Sheila Bair :0) From WSJ: Timothy Geithner, President-elect Barack Obama’s pick for Treasury Secretary, has asked Neel Kashkari and James Lambright to remain with the Obama team for several weeks to assist with the transition, these people said. The decision to keep two members of Treasury Secretary Henry Paulson’s team, even for a short period, could rile lawmakers angry over Mr. Paulson’s handling of the $700 billion bailout. The Obama administration is working to revamp the financial rescue and erase some of the stigma associated with the bailout. […]

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  3. » PEBO to keep Kashkari on for TARP…(Congressional Critters Heads explode/snark off) replied:

    […] Insurance Top News – Insurance Industry News wrote an interesting post today onHere’s a quick excerpt Well, this is unbelievably tone-deaf IMO. They are off their game at Camp PEBO…Congressional Dems (or GOP for that matter) cant STAND Kashkari or anything having anything to do with Paulson and the switch n bait anything but housing approach of TARP. It needs a new face, and Geithner and Summers ain’t new. Send Sheila Bair, we all love Sheila Bair :0) […]

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