Henry Paulson

Henry M. Paulson Jr. ( born March 28, 1946 in Palm Beach, Florida; Complete name Henry Merritt Paulson, Hank nickname ) is an American businessman and politician. From 1999 to 2006 he was Chairman and CEO of the investment bank Goldman Sachs On 30 May 2006 nominated U.S. President George W. Bush Paulson for the post of finance minister. The nomination was confirmed by the Senate on June 28, 2006. From July 3, 2006 to January 20, 2009, Paulson was the successor of John W. Snow of 74 finance ministers of the United States. He was succeeded by Timothy F. Geithner from the administration of Barack Obama.

Biography

Paulson grew up on a country estate in Barrington Hills, Illinois, on. He was Eagle Scout in the Boy Scouts of America Scouting. Paulson graduated in 1968 with a Bachelor of Arts degree from Dartmouth College, where he was also a member of the fraternity Phi Beta Kappa. He was also a member of the All - Ivy League ( union of all eight elite American universities), the All - East League ( union of all the prestigious universities in the U.S. East Coast ) and the Sigma Alpha Epsilon fraternity. Noteworthy are his membership of the environmental group Green Key Society at Dartmouth College and his service as chairman of the local Christian Science organization.

He later studied at Harvard Business School, where he the Master of Business Administration (MBA ) received in 1970. There he also met his wife Wendy know. Paulson is a devout Christian, is married and has two adult children. The family has their primary residences in Washington, DC and Barrington, Illinois.

Career

After his studies he worked from 1970 to 1972 in the administration of the Ministry of Defense of the United States as Assistant Secretary of State in the Ministry of Defence ( Assistant Secretary of Defense); In 1972 he was during the presidency of Richard Nixon a job in the administration of the White House. Here he worked from 1972 to 1973 as an assistant to John Ehrlichman, who was later involved in the Watergate scandal.

Paulson moved in 1974 into a job at Goldman Sachs in Chicago. Here he embarked on further stages of their careers, both in regional offices and in the corporate headquarters. From 1983 to 1988, Paulson led the Investment Banking Group in the Midwest region and was Managing Partner of the Chicago office. From 1990 on he headed the investment department of the bank as co- head of department and in 1994 was appointed Chief Operating Officer ( COO). In June 1998, he succeeded by Jon Corzine to in the post of General Director and the Executive Director. Paulson's annual earnings in 2005 amounted to around 37 million U.S. dollars, and in 2006 an estimated 16.4 million. The value of its assets is estimated at over 700 million U.S. dollars. Recently, he was also chairman of the trade group Financial Services Forum.

Paulson is a financial and ideological supporter of the Republican Party.

Finance

Like his predecessors at the helm of Goldman Sachs (Jon Corzine and Robert Rubin) also joined Paulson later in the civil service. In May 2006, President George W. Bush appointed him after the resignation of John W. Snow as the new finance minister in his cabinet. The Senate confirmed his candidacy in late June; officially Paulson was sworn in July 2006. Paulson's former colleague at Goldman Sachs, Robert K. Steel, was his deputy and head of the department " Domestic Finance " appointed. It is noteworthy that he did address the problem of gap between rich and poor in one of his first public speeches as finance minister and thus the " Inequality Debate of 2006" ( " inequality debate 2006" ) triggered. On September 19, 2008 - at the height of the U.S. banking crisis of 2008 - the so-called Paulson plan was launched, one priced at 700 billion bailout of the U.S. financial market.

Conservation

Paulson is known for its commitment to nature conservation. As a long standing member of the Union for Nature Conservation Nature Conservancy, he was temporarily chaired and co- chaired its Asia -Pacific Council. In this capacity, Paulson worked closely with the former President of the People's Republic of China, Jiang Zemin, together to save the Tiger Leaping Gorge in Yunnan province (southwest China). He also donated 100 million U.S. dollars of his Goldman Sachs stock package for nature conservation and environmental education. Paulson is also a member of the advisory board of the " Peregrine Fund ," which advocates for the protection of birds of prey. He was a founding member and Chairman of the Board of Managers School " School of Economics and Management of Tsinghua University " in Beijing.