Paulson, Henry M, Jr. On the Brink: Inside the Race to Stop the Collapse of the Global Financial System.
Librarian Bob revieved this pick of the week.
Talk about a spot you would not even give to a leopard. Thirteen months after Paulson left a three-decade career at Goldman Sachs to become George W. Bush’s final Treasury secretary the nation faced a financial crisis. Paulson was forced to abandon the “laissez-faire” (no government interference) doctrine he upheld in business to engineer bailouts of Bear Stearns, Citigroup and other such institutions. Paulson crossed political lines to form an effective alliance with House Financial Services Chairman Barney Frank. In “On the Brink” Paulson praises then President Bush for being able to ask “simple and sensible questions” on financial policies that often proved politically unpopular. Barack Obama appeared to Paulson “informed and thoughtful,” while John McCain was at open odds with the Treasury Secretary over the bailout strategy. More than anyone Paulson convinced Japan and China to “keep faith” with United States banks and government securities.
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