Tuesday, October 7, 2008

Goldman Sachs Golden Boy

Two years ago, he was a VP at Goldman Sachs. Then his old boss, the former GS CEO, brought him to DC. Now Neel Kashkari (as in "cash and carry") is the big kahuna in charge of doling out Bush's bailout. Priceless.

Obey me. On Tuesday Neel Kashkari, 35, an assistant secretary of the Treasury, was named interim head of the Office of Financial Stability by Treasury Secretary Henry Paulson. The office will run the $700 billion financial bailout program signed into law Friday. [More...]

Monday, October 6, 2008

MBA kills family, self as stocks tumble

Even his gated community wasn't able to shelter this unemployed financial advisor. Previously of PricewaterhouseCoopers and Sony Pictures, he had been out of work for months. He shot to death his mother-in-law, his wife and their three children (ages, 7, 12 and 19) before killing himself in the McMansion development of Sorrento Pointe. [More...]

The Dow dropped below 10,000 for the first time in four years.
But losses are pared in half after Dow drop reaches 800 points on credit crisis.

By Alexandra Twin, CNNMoney.com senior writer
Last Updated: October 6, 2008: 4:13 PM ET

NEW YORK (CNNMoney.com) -- Stocks plunged Monday, with the Dow down as much as 800 points during the session, as the $700 billion bank bailout plan and European government attempts to prop up faltering banks failed to comfort panicky investors. [More...]

Friday, October 3, 2008

US to produce propaganda for Iraqi TV

While Congress was distracted handing over $700 Billion to former Goldman Sachs CEO Hank Paulson, this mere million dollar waste went unnoticed.

U.S. to Fund Pro-American Publicity in Iraqi Media

By Karen DeYoung and Walter Pincus
Washington Post Staff Writers
Friday, October 3, 2008; Page A01

The Defense Department will pay private U.S. contractors in Iraq up to $300 million over the next three years to produce news stories, entertainment programs and public service advertisements for the Iraqi media in an effort to "engage and inspire" the local population to support U.S. objectives and the Iraqi government. [More...]

Market tanks as rescue plan passes

NEW YORK (Reuters) -Wall Street ended its worst week in seven years with another tumble on Friday on fears that the $700 billion financial rescue package may not unblock credit markets and stave off a U.S. recession. [more...]

Thursday, October 2, 2008