Henry M. Paulson
|Henry M. Paulson|
|74th United States Secretary of the Treasury|
From: July 3, 2006 – January 20, 2009
|President||George W. Bush|
|Predecessor||John W. Snow|
Henry M. Paulson, Jr. (born March 28, 1946) is a former Secretary of the Treasury. Henry was nominated by President George W. Bush on June 19, 2006 and confirmed unanimously by the Senate on June 28, 2006. After Barack Obama became President, he was replaced by Timothy Geithner as the Secretary of the Treasury.
Paulson, along with Ben Bernanke, the Chairman of the Federal Reserve System, was at the center of the efforts to resolve the Financial Crisis of 2008. Many call into question his relationship with the banking sector as a conflict of interest. Paulson's plan called for the rescue of extremely corrupt organizations, such as AIG.
Paulson served as Staff Assistant to President Richard Nixon from 1972-73 and Assistant to the Assistant Secretary of Defense from 1970-72.
After working for the White House, Paulson went to work for Goldman Sachs. He joined the company in 1974 and worked his way up the chain to be named Chairman and CEO in 1999. He specialized in financial deals with China, making 75 trips to that country. His net worth is about $400 million.
He served two years as chairman of the board of the Nature Conservancy, the world's largest not-for-profit environmental organization with total assets of $3.3 billion. Unlike most environmental groups it collaborates with corporations to help them make environmentally sound development decisions. "It compromises to achieve its goals, and it collaborates with business," says Paulson. "That bothers some people. It attracts me."