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Summary about Hank by Henry Paulson - Essay Example

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Summary about Hank by Henry Paulson

However, discomforting and morally reprehensive Henry Paulson found decisions he was making during the time as he claims in the video cannot regret because they were necessary (Paulson). Despite all his good decisions during then, Henry cites the only regrets were failing to convince Americans those radical decisions made were not for the good of Wall Street firms but future economical well being of US citizens. Five years after the economic depression of 2008 witnessed in United States, Henry “Hank” Paulson decided to have a movie that features him while talking about what happened besides informing the public. Through this movie, Americans get to find out the sacrifices and critical decisions, which Henry made in order to prevent US economy from collapsing. He gradually brings out the events of the popularly known “Paulson Financial Rescue plan” which he used to bring US’s economy back to its feet. ...
Henry does not hesitate to mention he had no many alternatives then and decision had to be taken fast (Paulson). However, Five years from then he cites such decisions have shaped United States’ economy to its current form. Besides, he frankly says same decisions are not perfect as they make an occurrence of such a similar crisis in the current economy inevitable. During this crisis as he tried to put things under control, Henry faced varied critics from different quarters like public, democrats and republicans who viewed his actions as uncalled for as well unethical (Paulson). During this

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period, he claims he formulated a legal law authorizing US treasury to utilize an amount of $700 billion in order to salvage economy and make its system stable (Paulson). Together with Ben Bernanke who was then Federal Reserve’s Chairman, they indirectly steered a decision to come up with credit facility that offered loans of several billions to American International Group in an effort of shunning insolvency. He advised the regime in that event to make use of many billions within treasury to assist financial institutions get rid of mortgages that were proving to be wasteful and threatened the liquidity of the institutions. He cites that they agreed with Bernanke by providing direct funding into financial investors’ institutions through government and win the confidence of investors in these institutions was the only way to save frozen capital markets (Paulson). They took the decision despite being highly opposed by congress. Through loaning the financial institutions, US regime would acquire 5% dividends in the first year and 9% on the corresponding years

Summary

Professor Date “Hank: Five Years from the Brink” by Henry Paulson Introduction In September 2008, Henry Paulson popularly known as Hank among many US citizens had the task to save US economy, which was at the verge of collapsing. In the video “Hank: Five Years from the Brink” Henry Paulson narrates about events that took place and how he continuously persuaded stakeholders like congress, presidential candidates, and banks to sign off $I trillion worth bailouts (Paulson)…
Summary about Hank by Henry Paulson
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