![]() Geithner Hardcover 3,668.90 The Courage to Act A Memoir of a Crisis and Its Aftermath by Ben S. Hardcover 2,399.00 Stress Test: Reflections on Financial Crises by Timothy F. Why? "I knew that unless I explicitly said this, some of them might think that Good Old Hank would come to the rescue. This item: On the Brink: Inside the Race to Stop the Collapse of the Global Financial System by Henry M. Yet Paulson told Wall Street bankers that there could be no government money in a Lehman rescue. As Lehman tottered on the brink, Paulson and Geithner were prepared to consider a "Bear Stearns-style rescue," he writes. "The market was determined to call our bluff," he says in describing Bear Stearns' shotgun marriage to JPMorgan Chase.Įach rescue upped the market ante. 2014 The Courage to Act: A Memoir of a Crisis and Its Aftermath. Yet his biggest opponent was the market itself. 2015 FIVE YEARS LATER: On the Brink - THE NEW PROLOGUE. Judging from this account, Paulson worried about what his "old friends" in Beijing would think the Chinese, after all, held hundreds of billions of dollars in U.S. "You started with Nixon and you're going to end with Bush?" she said in May 2006 after learning of his nomination. When Hank Paulson, the former CEO of Goldman Sachs, was appointed in 2006 to become the nations next Secretary of the Treasury. He even had to contend with his own mother, who had supported his work for the Nixon White House but disliked Bush. ![]() What we get is a persuasive portrait of a man caught between market, taxpayer and politician. ![]() The narrative goes behind closed doors as Paulson and his team struggled to prop up the wobbling dominos - Fannie Mae and Freddie Mac, Bear Stearns, Lehman Brothers, American International Group and on and on. ![]()
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