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The Man In Charge of Administering the Bailout:

Who would've guessed--wait for it--a Goldman Sachs guy!

OrinKerr:
Former, at least.

Beware of bald guys in their thirties who have undergraduate degrees in mechanical engineering, I say.
10.7.2008 11:55pm
John (mail):
Let's just say that Warren Buffett is no idiot.
10.8.2008 12:00am
wm13:
Whom would Prof. Zywicki hire? Really, this paranoid style, in which our problems are due to a cabal of rich investment bankers, and would be solved if we hired some poor but honest university professors, is very tiresome. Vulgar Marxism but without the philosophical underpinnings.
10.8.2008 12:07am
Dave N (mail):
Orin Kerr wrote,
Beware of bald guys in their thirties who have undergraduate degrees in mechanical engineering, I say.
As opposed to, say, bald guys in their forties who have graduate degrees in law?
10.8.2008 12:28am
Paul Allen:
More interesting is: will this guy have anything to do? The latest news is about a Fed/Treasury deal to use the funds and other provisions of the TARP statute to insure the Fed against losses on the commercial paper it plans to discount.

Meanwhile this mysterious auction that no one understands, and many think cannot work to any meaningful extent is reported to be months away.

Hmm. hmm.
10.8.2008 12:29am
Paul Allen:
wm13,

Whom would Prof. Zywicki hire? Really, this paranoid style, in which our problems are due to a cabal of rich investment bankers, and would be solved if we hired some poor but honest university professors, is very tiresome. Vulgar Marxism but without the philosophical underpinnings.

It is a reasonable question as to whether so many GS people in the government is a source of bias--some have complained. e.g., the CEO of Lehman. The story ran today that Lehman tried to convert to a bank holding company but the Fed was not interested in suspending certain rules which would have been necessary... but when GS came knocking the Fed obliged. Now there is at least one other good explanation for this (timing), but we can't be sure.

It at least risks seeming improper.
10.8.2008 12:33am
Dave N (mail):
Of course, after I posted I read the bio page for the self-reference--so I will back out by noting that the bald thing generally does add age to a person's appearance.
10.8.2008 12:34am
Distressed:
Hedge fund manager John Paulson, who actually knows how to value and trade mortgage backed securities for a profit (and whose fund is up 19% YTD, or any one of the numerous other successful distressed debt investment fund managers, would seem like a much better choice. Jane Tavakoli also comes to mind. An expert and proponent of securitization, she also understands its abuses and limitations better than anyone, and forsaw this crisis at least as far back as 2002. Besides being a former nominal colleague, Mr. Kashkari's age (35 y/o) and inexperience with mortgage securities seem to make him a less than ideal choice.
10.8.2008 12:35am
Lester Gump:
Is this news to people? Slow night on the VC?
10.8.2008 12:42am
MnZ:
Distressed, John Paulson seems like a smart guy, but he personally made $3.7 billion last year and is quite likely to be on track to do even better this year.

I cannot imagine a scenario in which the government pays Paulson enough to take the job that does not involve plenty of enraged voters.
10.8.2008 12:53am
SATA_Interface:
Cash and Carry? Did anyone else see that one coming...?
10.8.2008 12:54am
Alexia:
OK, since it is high school night:

Kneel Cash Carry .

Get it?
10.8.2008 1:39am
RSF677:
Is there some kind of bald men going on at Goldman? Corzine, Paulson, Winkelreid, Cohn, Blankfein, and this bailout guy all seem to be lacking hair.
10.8.2008 12:10pm
ejo:
someone not an investment banker? anyone who doesn't have friends and colleagues that he is going to have to make decisions on?
10.8.2008 12:47pm
Adam J:
wm13- good point, why would we think the investment bankers are responsible for the investment banks failing?
10.9.2008 12:45pm