This is the news of the minute!
American born Indian Neel Kashkari, Assistant Secretary at the US Treasury is at the center of the 700 Billion US dollar WALL STREET bailout after he was named this morning.
NAME: Neel Kashkari
NEW TITLE, ROLE: Interim Assistant Secretary of the Treasury for Financial Stability. He will oversee the government’s $700 billion rescue plan for the financial markets.
EDUCATION: Received both a Bachelor’s and Master’s in Engineering from University of Illinois at Urbana-Champaign. Also received an MBA in Finance from the Wharton School of the University of Pennsylvania.
EXPERIENCE: Joined the Treasury Department in July 2006 as a senior adviser to Secretary Henry Paulson. Previously was a vice president at Goldman Sachs & Co. in San Francisco, the firm Paulson ran prior to becoming secretary.
ENGINEERING BACKGROUND: Before his finance career, Kashkari worked on NASA technology such as the James Webb Space Telescope for TRW Inc., which is now part of defense contractor Northrop Grumman Corp.
Here’s wishing Neel good luck.
Kashkari is to be designated the head of the new office of financial stability, created last week, in the bailout legislation that was passed by the Congress.