Top Books: On The Brink
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."
In this first person account, Former Treasury Secretary Henry Paulson, who made his name and fortune on Wall Street, writes, "To protect free-enterprise capitalism, I had become the Treasury secretary who would forever be associated with government intervention and bank bailouts.
The speed with which the crisis hit had left me no other choice, and I had set aside strict ideology to accomplish a higher goal of saving a system."
Saving a system meant this former Chairman and CEO of Goldman Sachs had to play the role of the political tough guy leading his team – and the nation - from crisis to crisis during a time when panic and despair were in the air.
"Like the president, I understood that we had to hold our noses and save the company in order to protect the frail financially system.""
Paulson lays out the decisions and reasoning for bailing out Wall Street financial firms and the controversial rescue of AIG– a company who’s seemingly incompetent management perplexed and frustrated so many including then-President Bush. "Like the president, I understood that we had to hold our noses and save the company in order to protect the frail financially system," Paulson writes.
Paulson who served as Treasury Secretary for 30 turbulent months will be the subject of history, business and political books for generations, and his actions will be derided and defended for years. This book offers the chance to hear from the man himself the mistakes and lessons learned when the world seemed to be coming to an end.
More on CNBC including:
- Read an Excerpt of 'On the Brink' Here
- Watch - 'On the Brink' - Paulson on the Financial Crisis
- Watch - Paulson & Kudlow 'On the Brink'
- CNBC Special Report - Wall St In Crisis