Kashkari Slammed by Congress

Neel Kashkari, the Interim Assistant Secretary of the Treasury and the man responsible for deciding who gets money from the $700 billion bailout, gets slammed at a Congressional hearing on Friday November 13th. The Congressmen feel that Kashkari, along with the rest of the U.S. Treasury, baited them in to approving the bailout bill by claiming it was a rescue of home owners. Last week the Treasury announced that they would no longer be buying bad mortgage assets, instead they would buy bad consumer loans (credit cards, student loans, etc.), which does not help homeowners.