"Is Kashkari A Chump?"

Good question from Congressman Elijah Cummings of Maryland. The question was directed right at Neel Kashkari today during his testimony to Congress. It sort of reminded me of Dirty Harry's "Well, do ya, punk?"

Neel Kashkari, appointed by Hank Paulson, oversees the Treasury's $700 billion failout plan. Or, what used to be the plan. Or the new plan. Or whatever it is. When asked why he scrapped the Troubled Asset part of Troubled Asset Relief Program, Kashkari answered, "I don't think it's a good use of taxpayer money to put taxpayer capital into a financial institution that is going to fail."

Good answer from Kashkari (especially since it includes my new favorite word), er, it would have been good answer if it didn't make a complete mockery of the TARP. It would have been a good answer if wasn't like pouring salt in the wound caused by lying and force feeding the bill to Congress and the American taxpayers. It would have been a good answer if it wasn't further evidence that Team Paulson/Bernanke have no idea what they're doing. It would have been a good answer if..., well, it was bad answer.

Chump? Yes. FAIL? Absolutely.