Why mark zuckerberg is reading hank paulsons new book. Geithner was president of the federal reserve bank of new york another key position in the fed system then became. Ben bernanke, hank paulson and tim geithner draw lessons from the crisis. Hes hoping it will give him more insight into modern chinese culture. Throughout the book, paulson chronologically details his time spent in the treasury and how he dealt with the financial crisis head on. If the financial history of the globe is a topic of interest to you hank paulsons new book, on the brink is a must read. When hank paulson, the former ceo of goldman sachs, was appointed in 2006 to become the nations next secretary of the treasury, he knew that his move from wall street to washington would be daunting and challenging. Joining him in conversation will be new yorker correspondent and national book award winner evan osnos. Hank paulsons book is the best one ive found yet for explaining the things that led to the financial crisis of 200708. The 2008 financial crisis as seen from the top the new york. Former fed chair ben bernanke and former treasury secretaries tim geithner and hank paulson talk about the new documentary, panic. Zuckerbergs book club, a year of books, has focused on big ideas that influence society and business.
The former goldman sachs ceo and secretary of the treasury under. Henry paulson is married to wendy judge, with whom he has two children. Former treasury secretary paulsons new book details tense hours leading up to lehman brothers bankruptcy. China relations may only get worse whether or not a trade truce is reached, the two countries have been pushed further apart, the former treasury secretary said. When hank paulson, the former ceo of goldman sachs, was appointed in 2006 to become the nations next secretary of the treasury, he knew that his move. The 2008 financial crisis as seen from the top the new. Prior to his role in the department of the treasury, paulson was the chairman and chief executive officer ceo of goldman sachs.
His elder son henry merritt paulson iii, is a majority share. There are many who still dont understand just how frighteningly close to the brink we got, or how critical the decisions were. Treasury secretary hank paulson at a hearing before the federal crisis inquiry commission in 2010. But in his book, paulson reveals after returning to private life in. Paulson jr when hank paulson, the former ceo of goldman sachs, was appointed in 2006 to become the nations next secretary of the treasury, he knew that his move from wall. Palm beach florida, 28 maart 1946 is een amerikaans politicus en voormalig topfunctionaris. Geithner was president of the federal reserve bank of new york another key position in the fed system then became paulsons successor under barack obama. Up front bernanke, geithner, paulson to lead new project explaining decisions of financial crisis first responders david wessel thursday, november 9, 2017. Hank paulson may be a man of god, but hes no boy scout, at least when it comes to opining on some of the main players in the financial crisis in his new book, on the brink actually, paulson was a boy scout.
For his eighth selection, hes chosen the new book dealing with china. Bernanke, paulson, geithner wrap themselves in the heroic. Why mark zuckerberg is reading hank paulsons new book about china the honorable henry m. He is now the chairman of the paulson institute, which he founded in 2011 to promote sustainable economic growth and a. He was right in the center of the storm, and had a lot to do with how each choice was made. Hank paulson has dealt with china unlike any other foreigner. 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. Paulsons account of his tumultuous term as george w. Business insider facebook ceo mark zuckerbergs 2015 new years resolution was to read an important book every two weeks and.
Paulsons editor at businessplus, later told us that carroll is providing assistance on the book but maintained that carroll is not writing it. Reuters hank paulson might be the closest thing america has to an economics movie star. Prior to that, he had a 32 year career at goldman sachs, serving as chairman and ceo beginning in 1999. An insider unmasks the new economic superpower in april 2015. As treasury secretary, paulson was a member of the board of governors of the international monetary fund. For his eighth selection, hes chosen the new book dealing with china by hank paulson. Hank paulson may be a man of god, but hes no boy scout, at least when it comes to opining on some of the main players in the financial crisis in. Hank paulsons two decades of negotiations with china have left him with a wealth of anecdotes, presumably a sizeable stack of air miles and a new book, dealing with china. Facebook founder mark zuckerberg selected the book for the mark zuckerberg book club.
Hank paulson mastered wall street and washington, and now. Former fed chair ben bernanke, former treasury secretaries. Get the latest hank paulson news, articles, videos and photos on the new york post. The new york times bestselling author of dealing with china takes the reader behind closed doors to witness the creation and evolution and future of chinas statecontrolled capitalism. If he was giving up the top job at goldman sachs, he wasnt doing it for a sinecure. The former goldman sachs ceo and secretary of the treasury under george w.
Bernanke, geithner, paulson to lead new project explaining. But in a new book, he warns, its not a question of if, but when, chinas financial system, particularly the trust companies, will. When he arrived in washington as secretary of the treasury in the summer of 2006, henry m. Hank paulson uses careful language that will not bother the chinese censors unduly when they prepare the mainland edition of this book. In this current role he draws from his experience as the u. Prior to his role in the department of the trea sury, pa ulson was the chairman and chief executive officer ceo of goldman sachs. Paulsons decision cost lehman, then the world 11182009 05. Three years ago, when the conservancy was looking for a new ceo, the board asked paulson if he would consider taking the job. As head of goldman sachs, paulson had a pivotal role in opening up china to private enterprise. But in private conversations that alarmed thentreasury secretary henry paulson, immelt laid out a different picture of ges credit situation, according to. Treasury secretary, made a fateful decision that within two weeks brought the worlds economy to its knees. Paulsons decision cost lehman, then the world huffpost. Inside the race to stop the collapse of the global financial system, talks with bloombergs peter. Henry m paulson dealing with china an insider unmasks the new signed 1st 2015 hardcover.
He is now the chairman of the paulson institute, which he founded in 2011 to promote sustainable economic growth and a cleaner environment. But paulson had no idea that a year later, he would find himself at the very epicenter of the worlds most cataclysmic financial crisis since the great. In a way, it feels similar to booker t washingtons book, as paulson needs to constantly walk a tightrope that allows him to remain actively engaged in the ngo sector of china. Every municipal and volunteer firefighter in america. Hank paulson may be a man of god, but hes no boy scout, at least when it comes to opining on some of the main players in the financial crisis in his new book, on the brink actually. Henry paulson discusses financial crisis, new book. He describes how he asked zhou yongkang, then the powerful head of chinas internal security apparatus, to encourage thenpresident hu jintao to approve setting up the u. 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. An insider unmasks the new economic superpower by henry paulson is a rather difficult book to read. Henry hank paulson is a man who needs no introduction. According to the book too big to fail, paulson, bernanke, new york federal reserve chairman timothy geithner, and fdic chairman sheila.