Alex Pollock of the American Enterprise Institute assembled a collage of quotes from former Treasury Secretary Henry Paulson’s memoir of the financial crisis, On the Brink. The collage paints a stunning and frightening picture of a confused and panicked government without a coherent strategy for containing the financial crisis and preventing worldwide financial panic.
There are many books written about the global economy’s collapse by those who can quote their ‘inside’ sources, but the ultimate ‘insider’ — the man who was actually IN the INSIDE and at the very center of the storm — tells his story in "On the Brink: Inside the Race to Stop the Collapse of the Global Financial System."
The US stock market could be in for another rough day as investors grew nervous over uncertainty in the European debt crisis.
Warren Buffett has made no secret of his opposition to President George W. Bush's policies and actions during his eight years in the White House. But Buffett said today that after reading former Treasury Secretary Henry Paulson's new book on the credit crisis, he has a greater appreciation of Mr. Bush's understanding of the crisis and the president's willingness to do what was needed to prevent a complete economic collapse.
Tonight, we learn about Mr. Paulson's thinking behind all those decisions, taken in response to the financial crisis, and, ultimately, in the pursuit of long-run American prosperity.
More than a year after the collapse of Lehman Brothers, former Treasury Secretary Hank Paulson admitted that saying the bank would not get a bailout, was a ploy in the negotiations over the failed institution.