Henry "Hank" Merritt Paulson Jr. (born March 28, 1946) is an American banker and financier who served as the 74th United States Secretary of the Treasury from 2006 to 2009. Prior to his role in the Department of the Treasury, Paulson was the Chairman and Chief Executive Officer (CEO) of major investment bank Goldman Sachs .
Henry Paulson, in full Henry Merritt Paulson, Jr., byname Hank Paulson, (born March 28, 1946, Palm Beach, Florida, U.S.), American business executive who served as secretary of the U.S. Department of the Treasury (2006–09). As Treasury secretary, Paulson was a member of the board of governors of the International Monetary Fund. Paulson had previously served as chairman and chief executive ...
Secretary Henry M. Paulson, Jr. led President George W. Bush’s economic team in designing and coordinating the successful domestic and international response beginning in 2008 to the greatest financial crisis since the Great Depression. His courage and decisiveness helped protect the United States financial system from collapse, staving off an economic catastrophe that might have well have ...
Henry Paulson begins the interview talking about his earlier political life, how he became treasury secretary, and his relationship with President George W. Bush, Tim Geithner, and Ben Bernanke. Paulson moves on to the financial crisis by talking about mortgages and working with Rep. Barney Frank. He discusses the Bear Stearns bankruptcy, Fannie and Freddie Mac, American International Group ...
- Early Life and Education
- Treasury Secretary
- Growing Crisis
- Too Big to Fail
- The Paulson Institute
- How Did Henry Paulson Effect Policies With China During His Tenure As Treasury Secretary?
- What Is Henry Paulson's View of Regulations in Banking Industry?
- What Is "Straight Talk With Henry Paulson"?
Henry Paulson is regarded as a successful American banker and civil servant. As U.S. Secretary of the Treasury under President George W. Bush, Paulson is best known for spearheading efforts to support the United States economy during the 2008 financial crisis.
He is the author of five books, including On The Brink: Inside The Race To Stop The Collapse Of The Global Financial System and Dealing with China: An Insider Unmasks the New Economic Superpower.
Henry Paulson served as U.S. Treasury Secretary during the 2008 financial crisis.
He co-authored Firefighting: The Financial Crisis and its Lessons with Ben Bernanke and Timothy Geithner.
Henry "Hank" M. Paulson Jr. was born in Palm Beach, Florida, and raised in Barrington, Illinois. He earned a bachelor's degree in English from Dartmouth College in 1969 and an MBA from Harvard Business School in 1970. Paulson began his career on the White House Domestic Council as a staff assistant before joining Goldman Sachs in 1974, where he wou...
Nominated by President George W. Bush on June 19, 2006, and confirmed by the Senate on June 28, 2006, Henry Paulson was sworn into office on July 10, 2006, as the 74th U.S. Secretary of the Treasury. In his role, Paulson acted as the President's leading policy advisor on a broad range of domestic and international economic issues, most notably the ...
On Wednesday, Feb. 7, 2007, just seven months into Henry Paulson's tenure, HSBC Bank USA announced losses linked to U.S. subprime mortgages. 1 This event signaled the beginning of what became the 2008 financial crisis, regarded as the worst economic disaster since the Great Depression of 1929. As months passed, and defaults grew, Paulson would take...
In their book, Firefighting: The Financial Crisis and its Lessons, Paulson, Bernanke, and Timothy Geithner, New York's Federal Reserve chair in 2008, wrote, "Epic financial infernos don’t happen often. Usually, turmoil in financial markets burns itself out. Markets adjust, firms fail, and life goes on. Sometimes, financial fires get so serious that policymakers need to help put them out." 2
In March 2008, Paulson oversaw the merger of Bear Stearns with JPMorgan Chase, a deal delivered with $29 billion of government financing for Bear Stearns’ troubled assets. In this major play by the U.S. Treasury to curb the financial crisis, public criticism of Henry Paulson and Ben Bernanke grew. The Republican right-wing was averse to any tampering with the free market, and the Democratic left was outraged by the government rescue of Wall Street’s overpaid elite. 3
The U.S. Treasury, under Paulson, established several programs under the Troubled Assets Relief Program (TARP). The program began in 2008 and ended in 2010. During its active two years, TARP helped prevent the collapse of the American auto industry, restart the secondary credit markets to keep credit flowing to households and businesses, and stabil...
Henry Paulson, as U.S. Treasury Secretary, helped improve U.S. economic relations with China during his tenure. 5 He also worked to modernize the system for issuing U.S. Treasury bonds (T-Bonds), helped enhance the national security review process to spur foreign investment in the United States, and launched a program to fight the funding of terrorist groups. 6 Paulson also worked to improve the United States’ trading relationships with Panama, Colombia, South Korea, and Peru. 7
At the end of his tenure with the Treasury Department, Paulson founded The Paulson Institute at the University of Chicago in 2011. 8 Focused on sustainable economic growth and preserving the natural environment in the United States and China, the Paulson Institute is a think tank and learning center.
As Treasury Secretary, Paulson created the Strategic Economic Dialogue with China, a framework for managing a bilateral economic relationship on a long-term strategic basis. 9
Henry Paulson has often proposed an increase in regulations to prevent further financial crises. He has suggested that "a regulator can step in and has the power to liquidate an institution, to liquidate and let it fail in a manner so that it doesn't hurt the American people." 10
Straight Talk with Henry Paulson is a series of podcasts initiated as part of the Paulson Institute. Henry Paulson speaks with leaders and educators around the globe in his series.
Jan 6, 2021 · This past fall, Henry M. Paulson Jr., the former Treasury secretary, got a call from Paul David Hewson, better known as Bono. The musician-activist-investor had an idea and “an ask”: Bono, who ...
Jun 14, 2021 · Henry Merritt "Hank" Paulson, Jr. was U.S. Treasury Secretary from July 10, 2006, to January 20, 2009. 1 His response to the 2008 financial crisis prevented a global depression. 2 Paulson's background, direct personal style, and opinions regarding the economy propelled the U.S. Department of the Treasury into a pivotal role during his tenure.