One on One with Neel Kashkari
Episode Description
Last October, in the middle of the financial crisis, Congress approved a $700 billion bailout package to prevent major firms from going belly up. The government official in the eye of that storm was Neel Kashkari, a former investment banker from Goldman Sachs, who had followed his previous boss, Henry Paulson, into the Treasury department. Kashkari was responsible for building a team to oversee the bailout and also for deploying government aid to stabilize the financial system. How did the Treasury department work with the Federal Reserve to make the decisions it did? What kind of regulations should derivatives be subjected to in the future? In an exclusive interview at Wharton San Francisco with Knowledge@Wharton, Kashkari, who left the Treasury two weeks ago, discusses these issues and more. 📂 Finance & Accounting 🏷️ Great Recession
Brief Summary
Neel Kashkari discusses his role in the financial crisis and the importance of communication and collaboration in government decision-making.
Key points
- Neel Kashkari's Journey to Public Service. From Goldman Sachs to Treasury, Neel Kashkari shares his transition to public service.
- The Decision-Making Process During the Crisis. Kashkari discusses the collaboration between Treasury and the Fed during the financial crisis.
- Building a Team Under Pressure. Kashkari reveals how he built a team to manage the financial crisis effectively.
- Lessons Learned from the Crisis. Kashkari reflects on the lessons learned about government and Wall Street during his tenure.
- Advice for CEOs on Government Relations. Kashkari shares insights on how CEOs should communicate with the government.
- The Importance of Communication. Private sector must actively communicate with the government for effective policy-making.
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Episode highlights
- Neel Kashkari's Journey to Public ServiceFrom Goldman Sachs to Treasury, Neel Kashkari shares his transition to public service.“It was a once-in-a-lifetime opportunity and I jumped at it.”1:07May 26, 2009
- The Decision-Making Process During the CrisisKashkari discusses the collaboration between Treasury and the Fed during the financial crisis.“There was very very close collaboration between Treasury and the Fed.”2:50May 26, 2009
- Building a Team Under PressureKashkari reveals how he built a team to manage the financial crisis effectively.“We had to build an investing function to deploy seven hundred billion dollars.”6:35May 26, 2009
- Lessons Learned from the CrisisKashkari reflects on the lessons learned about government and Wall Street during his tenure.“I have tremendous respect for those folks working night and day.”17:28May 26, 2009
- Advice for CEOs on Government RelationsKashkari shares insights on how CEOs should communicate with the government.“The private sector should over communicate.”18:53May 26, 2009
- The Importance of CommunicationPrivate sector must actively communicate with the government for effective policy-making.“Don't assume that we're hearing all the messages.”18:55May 26, 2009
- Proactive EngagementEncouragement to reach out and ensure voices are heard in policy discussions.“Pick up the phone, make sure your voice is heard.”19:04May 26, 2009
