Treasury officials to meet Wall Street execs: report (to counter Dems - WTF?)

[UpInArms]

Source: Reuters

NEW YORK (Reuters) - Treasury Department officials plan private meetings with Wall Street executives and bankers, in an apparent attempt to counter Congressional Democrats seeking stronger steps to handle the housing crisis, the Wall Street Journal reported on Friday.

Six meetings with investors, loan servicers and bankers are planned on Friday, and one of them is to be held at the New York City offices of JPMorgan Chase & Co (JPM.N), the report said.

Neel Kashkari, a senior adviser to Treasury Secretary Henry Paulson, and Phillip Swagel, assistant secretary for economic policy will lead the Treasury's Friday efforts, the Journal said.

Read more: http://news.yahoo.com/s/nm/20080502/bs_nm/treasury_meetings_dc

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This is pure politics from a governmental agency! I realize that legality is not the strongest suit of this mal-administration, but this one definitely flies in the face of crossing the line.

[sendero]

1. I'm firmly in the camp..

... of NO BAILOUT. No bailout of Bear Stearns, no bailout of Citi, no bailout of Countrywide, no bailout of Wachovia no bailout of Wells Fargo and unfortunately no bailout for anyone who was dumb, greedy or just unfortunate enough to get caught up in this mess.

Because the bailouts will only make it worse in the long run. "Bailouts", i.e. the Fed trying to save us from a needed recession in 2002, are the reason we are in this mess to begin with. The longer they keep messing with stuff, the worse the end result will be.

[susu369]

2. Watch for Mr. Kashkari

http://online.wsj.com/public/article_print/SB120968951793761429.html

Leading the Treasury Department's efforts Friday are Neel Kashkari, a senior adviser to Treasury Secretary Henry Paulson, and Phillip Swagel, assistant secretary for economic policy.

Like Mr. Paulson, Mr. Kashkari left Goldman Sachs Group Inc. to join the Treasury Department. In a presentation he has given to several groups, Mr. Kashkari tries to play down some of the recent economic news and put the Treasury Department's response in a more flattering context.

According to a copy of the presentation, Mr. Kashkari notes that just four million homeowners are behind on their mortgages, a number equal to about 8% of the 55 million homeowners with loans. "This compares to 50% seriously delinquent in the 1930s," the spreadsheet reads.

-snip-

Mr. Kashkari's presentation takes a more aggressive stand against a broad bailout than the Treasury Department's usual public posture. "Homeowners who can afford their mortgage but walk because they are underwater are merely speculators," Mr. Kashkari's slideshow reads. "It's not the government's job to make people whole for their investment losses."

[UpInArms]

3. Kashkari sounds like a real piece of work

I'll definitely keep an eye on him

It's good to see you out here susu!

:hi:

[susu369]

4. Thanks, UIA

:toast:

I always look for your posts.

[Don1]

5. We should do a FOIA request

but then they would call the whole issue a state secret and Mukasey would back them up. They would appear right because the news media called Mukasey a moderate and Democrats voted him in. x(

[Indenturedebtor]

6. Wow they don't even bother to hide it anymore

Disgusting :puke:

WAKE UP AMERICA!!!!!!!!!!!

[underpants]

7. Milos Minderbinder 1 Schmedley Butler 0