Read On the Brink: Inside the Race to Stop the Collapse of the Global Financial System by Henry M. Paulson Jr. Free Online
Book Title: On the Brink: Inside the Race to Stop the Collapse of the Global Financial System|
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The author of the book: Henry M. Paulson Jr.
Edition: Headline Business Plus
Date of issue: September 2nd 2010
ISBN 13: 9780755360567
Format files: PDF
The size of the: 643 KB
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Fast-paced and dramatic re-telling of the financial crisis that nearly bought the developed world to its knees. Hank Paulson was at the absolute epicentre of the recent economic storm, and his account of how he dealt with the greatest financial crisis since the Great Depression makes for absolutely fascinating reading. The book contains all the decisive moments in the economic crisis, including the pivotal meetings with mortgage giants Fannie Mae and Freddie Mac, as well as Paulson's personal recollections of and conversations with President Bush, President Obama, Federal Reserve Chairman Ben Bernanke and current Treasury Secretary Timothy Geithner. As well as detailing the major decisions taken during the crisis, Paulson also puts forth the policies he believes need to be implemented to take us securely into the future.
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Read information about the authorHenry Merritt "Hank" Paulson, Jr. (born March 28, 1946) is an American banker who served as the 74th United States Secretary of the Treasury. He had served as the Chairman and Chief Executive Officer of Goldman Sachs, and is now chairman of the Paulson Institute, which he founded in 2011 to promote sustainable economic growth and a cleaner environment around the world, with an initial focus on the United States and China.
Paulson was born in Palm Beach, Florida, to Marianna (née Gallauer) and Henry Merritt Paulson, a wholesale jeweler. A star athlete at Barrington High School, Paulson was a champion wrestler and stand-out football player, graduating in 1964. Paulson received his A.B. in English from Dartmouth College in 1968; at Dartmouth he was a member of Phi Beta Kappa and Sigma Alpha Epsilon and he was an All-Ivy, All-East, and honorable mention All American as an offensive lineman. Paulson received his Master of Business Administration degree from Harvard Business School in 1970.
He met his wife, Wendy Judge, a Wellesley College graduate, during his senior year. The couple have two adult children, sports-team owner Henry Merritt Paulson III, more commonly known as Merritt Paulson, and journalist Amanda Paulson. The Paulsons became grandparents in June 2007. They maintain homes in both Barrington Hills and Chicago.
Paulson was Staff Assistant to the Assistant Secretary of Defense at The Pentagon from 1970 to 1972. He then worked for the administration of U.S. President Richard Nixon, serving as assistant to John Ehrlichman from 1972 to 1973.
He joined Goldman Sachs in 1974, working in the firm's Chicago office under James P. Gorter, covering large industrial companies in the Midwest. He became a partner in 1982. From 1983 until 1988, Paulson led the Investment Banking group for the Midwest Region, and became managing partner of the Chicago office in 1988. From 1990 to November 1994, he was co-head of Investment Banking, then Chief Operating Officer from December 1994 to June 1998, eventually succeeding Jon Corzine as chief executive. His compensation package, according to reports, was $37 million in 2005, and $16.4 million projected for 2006. His net worth has been estimated at over $700 million.
Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary. On June 28, 2006, he was confirmed by the United States Senate to serve in the position. Paulson was sworn in at a ceremony held at the Treasury Department on the morning of July 10, 2006.
Paulson identified the wide gap between the richest and poorest Americans as an issue on his list of the country's four major long-term economic issues to be addressed, highlighting the issue in one of his first public appearances as Secretary of Treasury. Paulson conceded that chances were slim for agreeing on a method to reform Social Security financing, but said he would keep trying to find bipartisan support for it. He also helped to create the Hope Now Alliance to help struggling homeowners during the subprime mortgage crisis.
After leaving his role as Treasury Secretary, Paulson spent a year at the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University as a distinguished visiting fellow, and a fellow at the university's Bernard Schwartz Forum on Constructive Capitalism. His memoir, On the Brink Inside the Race to Stop the Collapse of the Global Financial System, was published by Hachette Book Group on February 1, 2010.
On June 27, 2011, Paulson announced the formation of the Paulson Institute, an independent center located at the University of Chicago, dedicated to fostering international engagement to address issues of global scope, with particular emphasis on cooperation between the United States and China. Paulson was also named as a senior fellow at the University of Chicago's Harris School of Public Policy. His five-year appointment took effect July 1, 2