TARP Spawn Kashkari On Treasuries, Deficit

Editor's Note: Video is full-size - Bloomberg clips appear small before playing.

Video - Neel Kashkari, managing director and head of new investment initiatives at Pacific Investment Management Co., and a former head of the U.S. Treasury's Troubled Asset Relief Program, discusses the outlook for the Treasury market and the need for action to reduce the federal budget deficit.

Want to know our thoughts on the Goldman TARP spawn, he who never met a taxpayer heist not to his liking, then scroll the archives:

• Kashkari Headlines

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Comments

[DailyBail]

Propaganda From Neel Kashkari On The End Of TARP

http://dailybail.com/home/propaganda-from-neel-kashkari-on-the-end-of-tarp.html

[DailyBail]

Neel Kashkari On The Crisis: "It Would Have Been So Much Worse"

http://dailybail.com/home/neel-kashkari-on-the-crisis-it-would-have-been-so-much-worse.html

[john]

I noticed that in one of the clips Mr. Kashkary moved to the woods..... I wonder what the locals think?

http://www.youtube.com/watch?v=asmto0ihXa4&feature=related

[Cheyenne]

Kashkowhocares, what a cartoon character for the CNBC crowd.

[The Permabear]

Was he reading his answers from a teleprompter or was he just so rehearsed that he that he answered like a robot?

After his stint with the Treasury Dept I question anything he has to say.

[Cheyenne]

Permabear--

Yes.

But that soothes people. There are probably 235,000 wealthy adults flossing their teeth right now thinking that that mountain man made a lot of sense.

[DailyBail]

@john...funny clip..thanks for the laugh...

[mick]

These guys are on a "financial institution " conveyor belt.They seem to fuck shit up at one place then get transferred to another ...and probably pick up a few extra "$K" in the process ! Switch and bait ,smoke and mirrors ,you name it they cover each others ass for fame and fortune ...bastards !

[S. Gompers]

@ Mick,

Great comment, watch the movie They Live with Rowdy Roddy Piper sometime, only view it as a political satire instead of a sci-fi. I think you will be amazed.

Think of your comment while you watch it.

[It Is All Good]

Well, the liberal dems from Hawaii have decided not to sell copies of Obama’s long form birth certificate for $100. That should surprise, um, nobody. It did get a story here so cue the music, it is again time for the dance…you know the one DB. If you want, you can do a story about how lame the original story was. My guess is that it is not longer funny and this will be the end of the $100 nonsense.

[john]

AP source: Feds drop criminal probe against Mozilo

http://news.yahoo.com/s/ap/us_countrywide_mozilo

[snip]

LOS ANGELES – Federal prosecutors have ended a criminal investigation of Countrywide Financial Corp. co-founder Angelo Mozilo, a person close to the investigation said Friday.

The federal official told The Associated Press that the probe launched in 2008 into the actions of the former chief executive of the housing giant during the mortgage meltdown has been closed with no indictments. The person spoke on the condition of anonymity because the investigation was never publicly announced, and the Department of Justice as a policy does not announce the closing of investigations.

In October, Mozilo agreed to a $67.5 million settlement to avoid civil trial on fraud and insider trading charges brought by the Securities and Exchange Commission, but prosecutors pursuing the criminal case against him found that his actions did not amount to crimes.

Comment: $%^&*$$#@!@#*))(*&^%$#@!@#$%^&*()(*&^%$#@#$%^&*()_)(*&^%$#@!@#$%^&*()

[It Is All Good]

Hey DailyBail, before you delete these two comments...I gotz a question...

Have you checked out the Group of Thirty site lately, the have made some changes...great new pics of the Sith Lords.

[It Is All Good]

Is that a no comment on your hundred dollar story?

[Dr. Pitchfork]

Thanks, john. That one's coming up next.

[john]

@Pitchfork, GOOD!

MERS Tells Servicers to Stop Foreclosing in Their Name

http://www.shamethebanks.org/mortgages-in-the-news/mers-tells-servicers-to-stop-foreclosing-in-their-name

[john]

@Pitchfork and DB, this is to supplement my 11:13 post re: Countrywide, please note the players in this story.

Justice Urged to Investigate GSEs (2008)

WASHINGTON -- Fannie Mae and Freddie Mac, already under investigation by the Securities and Exchange Commission and the U.S. Attorney in New York,

will be fending off another investigation if some lawmakers in Congress have their way.

Twenty-eight Republican members of Congress have urged the Department of Justice to investigate Fannie Mae and Freddie Mac for mortgage fraud.

The group, led by the ranking minority member of the House Financial Services Committee Spencer Bachus (R-Ala.), has sent a letter to Attorney General Michael Mukasey charging that fraud, mismanagement, missed opportunities to rein in the enterprises and overzealous lending under the Community Reinvestment Act are at the center of the troubles in the mortgage-related markets.

The group urged Mukasey to add the GSEs to the Justice Department's already underway Operation Malicious Mortgage probe.

The lawmakers also alleged that sweetheart loans given to former Fannie and Freddie executives--the "friends of Angelo/Countrywide VIP mortgage program"--be included in the probe, naming several of them as having been recipients of loans on favorable terms from the company.

Angelo Mozilo is the former heard of Countrywide, which is now owned by the Bank of America.

Several years ago, Fannie Mae and Freddie Mac had to restate several years' worth of earnings in a $10 billion accounting scandal.

source: http://www.cutimes.com/Issues/2008/November%2005,%202008/Pages/NAFCU-Offers-Statement-Inserts-On-Credit-Report-Information.aspx

Flashback:

Mukasey Declines to Create a U.S. Task Force to Investigate Mortgage Fraud

http://www.nytimes.com/2008/06/06/business/06justice.html