My real job here at CNBC is to edit the blogs by CNBC anchors, reporters and guests. So this morning when I was reading Larry Kudlow’s blog– I came across a nugget I wanted to share with you.
On Monday, Henry Paulson will be on CNBC as Larry's guest. The former head of the Treasury is coming on CNBC to talk with Larry about his new book and his role in the bailouts and AIG. Now that’s what I call appointment viewing!
Paulson’s book, “On the Brink: Inside the Race to Stop the Collapse of the Global Financial System” goes on sale next week and it’s already making headlines.
Today’s WSJ gives a rundown of Paulson’s so-called “Enemies List” - and it's safe to say, this former Boy Scout doesn't pull any punches. One example is what he writes about Sarah Palin, “Right away she started calling me Hank. Now everyone calls me Hank…but for some reason the way she said it over the phone like that, even though we’d never met, rubbed me the wrong way….I’m also not sure she grasped the situation I had sketched out….”
Likening himself to a "first responder" Paulson writes, "we had little choice" but to bail out the banks.
“The pace of events during the financial crisis of 2008 was truly breathtaking,” writes Paulson who explains, “In this book, I have done my best to describe my actions and the thinking behind them during that time, and to convey the breakneck speed at which events were happening all around us.
I believe the most important part of this story is the way Ben Bernanke, Tim Geithner, and I worked as a team through the worst financial crisis since the Great Depression. There can't be many other examples of economic leaders managing a crisis who had as much trust in one another as we did. Our partnership proved to be an enormous asset during an incredibly difficult period. But at the same time, this is my story, and as hard as I have tried to reflect the contributions made by everyone involved, it is primarily about my work and that of my talented and dedicated team at Treasury.”
Don’t forget to tune in on Monday at 7pm/et to watch Larry Kudlow’sinterview with former Treasury Secretary Henry Paulson.
- Book: Paulson fearful, felt ill as crisis deepened
- Paulson Says He, Geithner Acted Properly on AIG