Items Tagged with 'Neel Kashkari'

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An inside look at why one Fed president voted not to raise interest rates

Thoughts from Minneapolis Fed President Neel Kashkari
Minneapolis Fed President Neel Kashkari is the only Federal Reserve official who voted against raising the existing target range for the federal funds rate during the March meeting. Kashkari, in a rare move, explained his reasoning in a blog post on Medium. In his words, “Given that I reached a different conclusion than my colleagues, I thought it appropriate to provide an explanation.”
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Fed's Kashkari: Time to end 'too big to fail'

Former overseer of TARP bailout suggests breaking up big banks
The fundamental shifts in the country’s economic policy in the wake of the economic crisis were not enough to prevent another catastrophic meltdown and more needs to be done to ensure that a future economic downturn doesn’t turn into another crisis, Neel Kashkari, the newly minted President of the Federal Reserve Bank of Minneapolis, said Tuesday.
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TARP creator: You can't just let all banks fail (even though you want to)

Neel Kashkari, yes Neel Kashkari, is running for California governor
The mastermind behind the Troubled Asset Relief Program, Neel Kashkari, is attempting to step into a new role and is running in the 2014 election for California governor. And while there are mixed attitudes about TARP, Kashkari sees it as a sign he can help run the Golden State.
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It's Official: Fannie CEO to Replace Kashkari

The search is over. The Obama administration has tapped now-former Fannie Mae [stock FNM][/stock] CEO Herb Allison to replace Neel Kashkari as head of the government's $700bn Troubled Asset Relief Program, effectively granting him the title assistant secretary for the Office of Financial Stability -- so long as he is confirmed by Congress.
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Kashkari's Replacement: Fannie CEO Herb Allison?

The Obama administration may be set to tap current Fannie Mae [stock FNM][/stock] CEO Herb Allison as the next head of the government's $700bn Troubled Asset Relief Program, leaving both Fannie Mae and sister GSE Freddie Mac [stock FRE][/stock] searching for new chief executives. Freddie CEO David Moffett announced his resignation last month.
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Hedge Fund Manager Quits Race for TARP Role

The Treasury Department saw yet another candidate drop out of the race to fill top positions. Hedge fund manager Frank Brosens has withdrawn his name from consideration for a leading position to head the Treasury's Troubled Asset Relief Program, sources told the Wall Street Journal. Co-founder of Taconic Capital Advisors, Brosens campaigned for President Barack Obama and is a major donor to the Democratic Party.
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Treasury Calls For Details on Bank Lending

Under pressure to report more clarity and oversight in implementing the Troubled Asset Relief Program and the use of TARP funds given to financial institutions, the Treasury Department is apparently going after banks now with letters written by interim assistant secretary Neel Kashkari asking for figures on business and consumer loans, according to a story Tuesday by Bloomberg.
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Bush, Obama Unite for TARP Funds; Regulators Divide Over Conditions

President-elect Barack Obama on Monday asked President George W. Bush for his assistance in requesting the release of the second half of the $700 billion granted to the Troubled Asset Relief Program. President Bush has called for Congress to release the next $350 billion, according to a report Tuesday by the Wall Street Journal.
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Kashkari: Credit to Remain Slow Until Confidence Returns

With Friday's investment in 43 financial institutions, the Treasury Department's allocation of Troubled Asset Relief Program funds through the Capital Purchase Program has grown to $189 billion of the $250 billion allotted. Pending applications under the program remain "in the thousands," according to a speech given Monday by interim assistant secretary Neel Kashkari.
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TARP Comes Under Fire for Weak Transparency

The Treasury Department's implementation of TARP funds came under fire from multiple directions Friday as regulators criticized the lack of transparency and oversight. The Congressional Oversight Panel in its first report since issuing a list of questions Dec. 10 -- many of which went unanswered -- on Friday called for increased bank accountability in the use of TARP funds, transparency and asset evaluation, increased efforts to prevent foreclosures, and a clearly defined strategy.
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