TARP – LOTTA MOVING PARTS
I’m happy to see Hank’s old crony from Goldman Sachs, under junior Under-Secrtary of the Treasury Neel Kashkari who’s been appointed as director of the Treasury’s “Troubled Asset Relief Program” (TARP) “… has put together a team to identify troubled mortgage-back securities and whole loans to purchase as the agency readies to implement the TARP as quickly as possible while working to ensure high quality execution ….”
Sure would be nice if those team members have actual mortgage underwriting and servicing skills (unlike Neel), so they’ll have the necessary knowledge and experience to not only pull the trigger but to actually hit the target as wel!
