Neel Kashkari, Treasury Secretary Henry Paulson’s choice to lead the nation’s $700 billion rescue plan, announced more details on Monday of how the US bank plan would work, including the names of five individuals who will serve as an interim leadership team while permanent staff are recruited.  While some expected Kashkari to look to the private sector to fill leadership roles, he took a different path.  Of the five, three are current or former career federal employees and one is a political appointee. 

Reuben Jeffrey, currently undersecretary of State for economic affairs, will be the Troubled Assets Relief Program's (TARP) chief investment officer.  Jeffrey is a 2007 Bush political appointee and was most recently Chairman of the Commodity Futures Trading Commission.  Prior to that, he worked for Goldman, Sachs & Co. for eighteen years.

Donald Hammond, deputy director of the Federal Reserve’s payments division, will be the chief compliance officer.  Hammond is a former Treasury career official whose duties included management of the government’s cash flow and improving government financial management.

Thomas Bloom, senior deputy comptroller and chief financial officer of the Office of the Comptroller of the Currency (OCC), will be the chief financial officer for TARP.  Prior to joining the OCC, Bloom supervised the accounting and finance activities of the Department of Defense (DoD), served as CFO at the Department of Commerce (DoC) and the General Services Administration (GSA), and served as the Inspector General to the Department of Education (DoE).

Donna Gambrell, head of the Treasury’s Community Development Financial Institutions (CDFI) Fund, will lead the program’s efforts to preserve homeownership.  Prior to her appointment to CDFI, Gambrell was a career Federal Deposit Insurance Corporation (FDIC) employee, serving as Deputy Director of Consumer Protection and Community Affairs.

Jonathan Feichter, currently deputy director of the International Monetary Fund’s (IMF) monetary and capital markets director, will be the chief risk officer.  

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