Former Bailout Czar Signs On With Firm That Helped Run Bailout

TPM reports:

What a difference a day makes.

On Sunday, we learned from a florid Washington Post profile that Neel Kashkari, the Treasury Department's one-time bailout czar, is now Thoreau-ing it up in the Northern California woods. (Sample line: The moon hits his stubble, which is six days old.") But the very next day, the investment behemoth PIMCO announced that it had hired Kashkari as a managing director and the head of new investment initiatives.

But that's not the only thing cause for raised eyebrows over the news. As one good-government group frames it, Kashkari's ability to cash in on his short-lived but high-profile tenure in public service seems likely to speed up the already fast-moving revolving door between government and the financial sector. And in southern California-based PIMCO, he could hardly have picked a firm more enmeshed in the recovery effort he helped lead.