Interim Assistant Secretary for Financial Stability Neel Kashkari gave his 10 day update on implementing Congress’ $700 billion Treasury-led bailout. This is the visual synopsis of his remarks:
(tag cloud: wordle.net, technique hat tip: Paul Kedrosky, full text: WSJ)
Kashkari higlighted a strategy “with one simple goal–to restore capital flows to the consumers and businesses that form the core of our economy.”
Some of the highlights of implementation (“tools”) include:
- MBS purchase program
- Whole loan purchase program
- Insurance program
- Equity purchase program
- Homeownership preservation (HOPE NOW and Hope for Homeownership referenced)
- Requirements of institutional participation
Kashkari also provided updates and details on recruitment, structure, procurement, oversight, and compliance.
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