Bailout Bill Boss

As a fiercely proud Indian-American I take every opportunity afforded to me to celebrate when my fellow countrymen achieve upward mobility in the world (except for Bobby Jindal).

Hence when Mr. Neel Kashkari, whose parents hail from Kashmir, India, was selected to be in charge of the $700 billion rescue effort of American’s financial institutions I thought I would be tickled with joy.

However, upon further review of Mr. Kashkari’s non-cultural background, I find myself disillusioned by this selection.

From a 30,000 foot overview Mr. Kashkari appears to have the credentials to handle such an important responsibility, with Bachelor’s and Master’s degrees in Engineering (but what specific field is unknown to all at this point) and a Wharton MBA.

However, upon deeper investigation one learns that Mr. Kashkari previously served as Assistant Secretary at the Treasury Department and as an adviser to Treasury Secretary Henry Paulson.

Yes the same Mr. Paulson that helped get us in this financial mess in the first place. The same Mr. Paulson who originally requested $700 billion in a three-page plan that allowed him to allocate money as he saw fit, without any congressional oversight or judicial review.

Something didn’t smell right then.

Further investigation shows that Mr. Kashkari was formerly a Vice President at Goldman Sachs where Mr. Paulson was previously the chief executive.

Yes the same Goldman Sachs that helped get us in this financial mess in the first place. The same Goldman Sachs that placed investor money into hedge funds that were heavy into mortgage-based securities with a strong foothold in subprime mortgages. All the while the firm was using its corporate money to short such securities in an effort to make considerable profit. Investors lost money, but the firm made money.

Something didn’t smell right then.

So American taxpayers are being forced to entrust their hard-earned money in a 35-year old hotshot who worked at a company that helped exacerbate the subprime mortgage crisis and for a man who oversaw the tanking of the American economy from both the inside and the outside because of said crisis?

So American taxpayers are being forced to entrust their hard-earned money with two men who surely found themselves on the receiving end of tens of millions in bonus money paid to executives by Goldman Sachs over the past 10 years. Now these former executives find themselves in charge of doling out money that can benefit their former employer directly. Talk about conflict of interest. Could Goldman Sachs be looking for a return on investment on that bonus money right about now?

Something still doesn’t smell right.