Neel Kashkari testified before the House Oversight Subcommittee of Domestic Policy on Friday. Kashkari touted the Treasury Department's "accomplishments" in terms of T.A.R.P.'s effectiveness and pretended to answer questions of committee members.
(When he said "I am happy to answer your questions," I wanted to ask him how much he paid for his suit, likely more than an average American makes in two weeks.)
Dennis Kucinich, the subcommittee chairman, ripped into Kashkari like a rabid dog or a Diet Coked-out soccer mom after a questionable call. Kucinich took the Treasury Department to task for its decision to give preference to Wall Street while turning a blind eye to Main Street. With millions of people already in foreclosure, and millions more on the verge, Kucinich chastised Kashkari for the Treasury Dept's decision to give banks free reign for spending their bailout funds, rather than requiring banks to direct the funds to preventing home foreclosure.
Kucinich linked the Treasury Department's approach to the Republican favored trickle down economics and noted that this policy too often leaves the poor poor and, in this case, homeless. Kashkari bobbed and weaved his way through Kucinich's questions and stuck to the Treasury Department's line that maintains they spent the money Congress gave them, even though they promised Congress to spend it on something else.
The ranking member of the subcommittee, Darrell Issa, asked point blank, whether Kashkari had lied to Congress. Kashkari's response blamed Sec. of Treasury Paulson for the decision. Great, Kashkari's the only one who has a buck and he's passing it.
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