Hank paulson autobiography of missouri

Henry M. ("Hank") Paulson, Jr., former Secretary of the Treasury, is a distinguished senior fellow at the Harris School of Public Policy, University of Chicago.

Hank paulson autobiography of missouri lottery Retrieved May 11, Ultimately, Paulson could not avoid the lure of New York City. Dick Cheney — Goldman Goes to Washington".

He also serves as chairman of the university's Paulson Institute, a think tank which he founded in to study and promote global issues.^[1]

Background

The Treasury Years

Paulson served as secretary of the US Treasury from July 10, to January of He was nominated by President George W. Bush and confirmed unanimously by the U.S.

Senate.

A year after he took office, the U.S. faced a growing credit crunch. Toward the end of , Paulson began working with the mortgage industry to adopt a temporary interest rate freeze for some of the millions of homeowners who had bought houses with subprime loans and faced skyrocketing increases in their monthly payments. As a recession loomed in January of , Paulson led the government's drive for a $ billion package of tax cuts and incentives to spur the economy.

Hank paulson autobiography of missouri New York: Viking Press. With the passage of H. Vanity Fair. Retrieved April 9,

In March , he helped engineer a government-backed takeover of Bear Stearns by JPMorgan Chase at a bargain price, with the Fed shielding JPMorgan from most of the risk of Bear's troubled assets. He pushed a plan to safeguard Fannie Mae and Freddie Mac that led to the government seizing the two entities to prevent them from failing.

He proposed the Troubled Asset Relief Program (TARP).

Paulson came under attack from Republicans and Democrats in Congress over the government's role in Bank of America's purchase of Merrill Lynch in September , in the midst of a credit crisis. At a July hearing, some Democrats accused him of covering up the extent of Merrill's losses and the cost to taxpayers, while some Republicans wondered whether Paulson and Ben Bernanke had improperly pressured BofA's then-chairman Kenneth Lewis into going through with the deal.^[2]

Investment Banker

Before coming to Treasury, Paulson was chairman and chief executive officer of Goldman Sachs.

Hank paulson autobiography of missouri state Early career [ edit ]. Peters — Stephens: "It certainly is something that has never been done on the Street before" BusinessWeek , March 29, In spring , Paulson warned an audience at the Shanghai Futures Exchange that China needed to free up capital markets to avoid losing potential economic growth, saying: "An open, competitive, and liberalized financial market can effectively allocate scarce resources in a manner that promotes stability and prosperity far better than governmental intervention.

He joined Goldman Sachs in in the Chicago Office and became a partner in From until , Paulson headed up Investment Banking Services for the Midwest Region and became managing partner of the Chicago Office in In , he was named co-head of the firm's investment banking division, and in he rose to the position of president and chief operating officer. In , he was named co-senior partner, and with the firm's public offering in , became chairman and CEO.

Prior to joining Goldman Sachs, Paulson was a member of the White House Domestic Council, serving as staff assistant to the president from to , and as staff assistant to the assistant secretary of defense at the Pentagon from to

He and his wife, Wendy, have two children, Amanda and Merritt.^[3] He is a Cubs fan.^[4]

Education

Paulson graduated from Dartmouth in , where he was a member of Phi Beta Kappa and All Ivy, All East, and honorable mention All American for football.

He received an MBA from Harvard in

References