Treasury Dept. Lays Groundwork For Bailout Plan

Law360, New York (October 7, 2008, 12:00 AM EDT) -- The U.S. Treasury Department has begun to fill in some of the bailout plan's broad strokes, tapping an agency official to be the program's overseer, and seeking bids for outside asset managers to help run the rescue plan.

On Monday, Secretary Henry Paulson named Neel Kashkari, current assistant treasury secretary and a former Goldman Sachs & Co. vice president, as head of the $700 billion rescue plan.

The agency also released a description of the process it will follow for selecting outside asset management firms to...
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