From the man who was in the very middle of this perfect economic storm, ON THE BRINK is Paulson's fast-paced retelling of the key decisions that had to be made with lightning speed. This, then, is Hank Paulson's first-person account. All eyes turned to the United States Treasury Secretary to avert the disaster. Events no one had thought possible were happening in quick succession, and people all over the globe were terrified that the continuing downward spiral would bring unprecedented chaos. This was truly a once-in-a-lifetime economic nightmare. economy and grew more ominous with each passing day, destroying jobs across America and undermining the financial security millions of families had spent their lifetimes building. Worst of all, the credit crisis spread to all parts of the U.S.
Major institutions including Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, AIG, Merrill Lynch, and Citigroup, among others-all steeped in rich, longstanding tradition-literally teetered at the edge of collapse. When Hank Paulson, the former CEO of Goldman Sachs, was appointed in 2006 to become the nation's next Secretary of the Treasury, he knew that his move from Wall Street to Washington would be daunting and challenging.īut Paulson had no idea that a year later, he would find himself at the very epicenter of the world's most cataclysmic financial crisis since the Great Depression.
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