Timothy Geithner
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Apr 19, 2019 · What can we learn from the 2008 financial crisis that might apply next time? When the global financial system was melting down in 2008, Ben Bernanke was head of the Federal Reserve....
Apr 16, 2019 · The Financial Crisis and Its Lessons. By Ben S. Bernanke, Timothy F. Geithner and Henry M. Paulson Jr. For a few months in 2008 and 2009 many people feared that the world economy was on...
Sep 19, 2008 · The former chairman of Goldman Sachs ( GS, Fortune 500) brokered the compromise between Congress and the White House that produced this year's $168 billion economic-stimulus package. He was point...
- Role as Treasury Secretary
- U.S.-China Strategic Economic Dialogue
- 2008 Financial Crisis
- Early Career
The U.S. Treasury's $16 billion budget makes it one of the largest. It controls another $675 billion in tax credits and debt financing, including Treasury bonds, as of fiscal year 2021.It manages the Internal Revenue Service, the U.S. Mint, and the Bureau of the Public Debt. President George W. Bush hired Paulson for his strong connections to Wall ...
Bush also hired Paulson to work with China to raise the value of its currency. At the same time, he wanted China to open its financial markets to U.S. investors. Paulson immediately launched the U.S.- China Strategic Economic Dialogue, in which high-ranking U.S. and Chinese officials agreed to meet twice a year to further economic cooperation betwe...
The 2008 financial crisis diverted Paulson's attention back to the United States. In February, he helped launch the Bush economic stimulus plan. The Treasury Department sent $120 billion in tax rebate checks to spur spending and growth. On July 13, he announced a rescue plan for Fannie Mae and Freddie Mac, which included temporary lending authority...
Paulson got his B.A. from Dartmouth in 1968. He was a member of Phi Beta Kappa, and an All-Ivy, All-East football player. He received an MBA from Harvard Business School in 1970. Paulson was a Staff Assistant to the Assistant Secretary of Defense from 1970 to 1972. He became Staff Assistant to President Nixon from 1972 to 1973. He joined Goldman Sa...
- Kimberly Amadeo
Feb 15, 2024 · The 2007-2008 Financial Crisis. On Wednesday, Feb. 7, 2007, just seven months into Paulson's tenure, HSBC Bank USA announced losses linked to U.S. subprime mortgages. This event signaled the...
On September 19, 2008, Paulson called for the U.S. government to use hundreds of billions of Treasury dollars to help financial firms clean up nonperforming mortgages threatening the liquidity of those firms.
