In case you missed it, here's a summary of new Office of Financial Bailout head Neel Kashkari's presentation this morning:
We're formulating all sorts of cool plans, including:
- trash mortgage-backed securities removal
- trash whole loan removal
- equity injections
- keep-people-in-houses initiatives
- humongous oversight and accountability
Unfortunately, we got so spanked last time for rushing out a plan that we're not going to start doing any of this for a while. Right now, we're just hiring people [insert list]. We're also listening carefully [so if you have ideas, please send them along!].
Meanwhile, if you want actual action, please look across the pond, where Gordon Brown announced his plan on Saturday and bought three huge banks this morning.
In other words, Kashkari has a brand-spanking new pickup truck outfitted with all the latest tools. Someday, maybe he'll actually drive it to the job site.
See Also: Who the Hell Is Neel Kashkari?
