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. 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.

Hank paulson autobiography of missouri CBS News. Paulson's desire to speak out about corporate governance was intensified by the Enron scandal. Paulson was an athlete at Barrington High School , participating in wrestling and football. Succeeded by Timothy Geithner.

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.

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.

Hank paulson autobiography of missouri state Author [ edit ]. Notable among the members of Bush's cabinet, Paulson has said he is a strong believer in the effect of human activity on global warming and advocates immediate action to decrease this effect. While leading Goldman, Sachs, Paulson continued to be a person who professed strong Christian values: "My wife and I try to begin every day by affirming Jesus. Google News search.

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.

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