Video: Fascinating interview with Neel Kashkari, “the father of the mother of all bailouts” on the European debt crisis and financial regulatory reform

An absolutely fascinating interview with Neel Kashkari, the father of the financial meltdown’s TARP facility.  He’s now at Pimco,  working along side Bill Gross and Mohamed El-Erian, and was interviewed by CNBC’s Erin Burnett.

Takeaways:

–He doesn’t think it’s fair to compare the TARP with the European bailout.  The TARP focused on a capital problem, and the European facility deals with a  liquidity problem.  They need to get their political leaders together to deal with the solvency issue which will take quite a while to fix.

–On the success of the TARP:  “I think it’s been a resounding success far exceeding my own expectations”…”The fact that we’re getting most of it back is a resounding success”

–Does he think that GM, AIG, Chrysler will pay all of the money back?   He thinks it’ll be tough to get it all back.

–On the financial reform bill, and whether it will  prevent the need for another future bailout?:  He said that it’s unclear  as to what would happen if there’s another huge meltdown.  “My fear is that we’re going to declare victory when we pass this bill and think that we’ve solved all of our problems”.

Tags: CNBC, Credit Crunch, Erin Burnett, European bailout, Financial Reform, Financial Regulatory reform, Greece, Neel Kashkari, Pimco, Politics, Sovereign Debt, Spain, TARP, Video