Former Bailout Chief Takes Job With Pimco

Remember Neel Kashkari, the bailout chief under President Bush who resigned from his post in May? After taking several months off, he has now taken a job as the head of investment initiatives at Pimco, the investment company that boasts of its close access to government officials and counts Alan Greenspan among its advisers. The move is raising some eyebrows. During the financial crisis, Pimco’s founder advised the Treasury, and the company publicly stated that its strategy was to invest in areas that would benefit from government bailouts. By September 2009, Pimco’s assets under management had swelled 32 percent to $940 billion since the end of 2008.