Washington, DC has a new $700,000,000,000 man.

This morning, Treasury Secretary Henry Paulson selected an assistant secretary with the department to head up the Bailout plan passed by the House and Senate and signed by the president.

Neel Kashkari will be named the interim head of the Office of Financial Stability. That's the name of the office created Friday to enact the plan.

The 35-year-old helped write the $700 billion bill that was shot down by the House of Representatives last Monday. He is a former Goldman Sachs banker who worked with Paulson in the company.

Kashkari earned a bachelor's and master's degree in engineering from the University of Illinois at Urbana-Champaign. He started off as an aerospace engineer, then earned his Masters in Business at the University of Pennsylvania.

Kashkari will stay the interim head until the Senate can confirm him.

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