Sunday, October 12, 2008
Bailout Package to be run by a 35 year old
Henry Paulson, the Secretary of Treasury, will be in charge of the recently passed $700 billion dollar mortgage bailout package. But it will be his undersecretary that will be doing the heavy lifting. Instead of the usual grey-haired Caucasian, the bulk to the bailout work will be done by a 35 year old former engineer turned MBA. Read the full story at USA Today.
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On the face of it, Kashkari's credentials are impressive. He has the requisite work ethic and the sort of scientific mind that the government doesn't often employ. [They really don't want smart, independent-thinking people. I'm reminded of the quote from Men In Black when Will Smith's character was being tested along with a bunch of Air Force, Army, and Navy professionals: "You're exactly what we've come to expect from years of government training".]
On the other hand, it may not matter who we put to work on this problem -- it literally might dwarf the abilities of the government to fix what has been broken.
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