Beverly Hills, 9021-owe?

October 27, 2008

Anyone up for a $395 million Rodeo Drive shopping spree? 

Apparently the latest recipient of U.S. Treasury cash is the City National Bank in posh Beverly Hills.  According to the Los Angeles Times, the bank is taking part in the government’s $250 billion cash infusion and made no promises about how it would use the $395 million it’s getting.

Got advice?

October 13, 2008

Treasury Secretary Henry Paulson (L) and Assistant Secretary for International Economics and Development Neel Kashkari are pictured in an undated handout photo.The U.S. Treasury Department expects to name asset managers for its $700 billion financial rescue plan within days and is working “around the clock” to thaw credit markets, the program’s new chief, Neel Kashkari , announced Monday.They’ve tapped investment consultants Ennis Knupp and lawyers Simpson Thatcher to help out. Reuben Jeffrey, a State Department official, is going to be interim chief investment officer while chief financial officer for the Office of the Comptroller of the Currency, Tom Bloom, will serve as the program’s CFO.The Treasury’s Troubled Asset Relief Program, known as TARP, also has provisions for limiting executive pay packages.Treasury Secretary Henry Paulson (L) and Neel KashkariWhat advice would you give to officials at the Treasury?If you want to read Kashkari’s speech in its entirety, click here