6/25/2023 0 Comments On the brink by henry m paulson jr![]() He was hailed on magazine covers as KING HENRY and PAULSON TO THE RESCUE. Along with his partners in panic, Federal Reserve Chairman Ben Bernanke and Federal Reserve Bank of New York president Tim Geithner who will take over at Treasury in January Paulson has led a government economic intervention on a scale never before seen in the U.S., except perhaps during World War II.įor a brief period in late summer, before the collapse of Lehman Brothers brought the crisis into a new and much more dire phase, Paulson's new clout was greeted by widespread acclaim. Congress has given him close to $1 trillion to repair the financial system. A lame-duck President has given him nearly complete control over the country's economic policy in the midst of an epic financial collapse. Paulson, 62, has come to play a historic role at a historic time. "But, boy, I do not want to be this relevant." frame folded into a big chair in the corner of the office where such legends as Andrew Mellon and Henry Morgenthau once worked and where he has presided over some of the most momentous Treasury meetings ever. ![]() ![]() "I've always said I don't want to be irrelevant," Paulson said during an interview in mid-December, his 6-ft. If he was giving up the top job at Goldman Sachs, he wasn't doing it for a sinecure. (Hank) Paulson Jr.'s top priority was to make certain that his department would have independence and clout. When he arrived in Washington as Secretary of the Treasury in the summer of 2006, Henry M. ![]()
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