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Encyclopedia > Henry Paulson
Henry M. Paulson


In office
July 3, 2006 – present
Under President George W. Bush
Preceded by John W. Snow

Born March 28, 1946 (age 60)
Palm Beach, Florida
Political party Republican

Henry Merritt "Hank" Paulson, Jr. (born March 28, 1946) is the United States Treasury Secretary. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs, one of the world's largest and most successful investment banks. Image File history File links Download high-resolution version (1500x1800, 507 KB) File links The following pages on the English Wikipedia link to this file (pages on other projects are not listed): United States Secretary of the Treasury Henry Paulson ... The United States Secretary of the Treasury is the head of the United States Department of the Treasury, concerned with finance and monetary matters, and, until 2003, some issues of national security and defense. ... July 3 is the 184th day of the year (185th in leap years) in the Gregorian calendar, with 181 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... The presidential seal was used by President Hayes in 1880 and last modified in 1959 by adding the 50th star for Hawaii. ... George Walker Bush (born July 6, 1946) is the 43rd and current President of the United States, inaugurated on January 20, 2001. ... John W. Snow John William Snow, Ph. ... March 28 is the 87th day of the year in the Gregorian Calendar (88th in leap years). ... Year 1946 (MCMXLVI) was a common year starting on Tuesday. ... Palm Beach is the name of several places: Palm Beach, New South Wales is a suburb of Sydney, Australia. ... This article or section does not cite its references or sources. ... For other uses, see Republican Party (disambiguation) or GOP (disambiguation). ... March 28 is the 87th day of the year in the Gregorian Calendar (88th in leap years). ... Year 1946 (MCMXLVI) was a common year starting on Tuesday. ... The United States Secretary of the Treasury is the finance minister of the Federal Government of the United States. ... For other uses of chair, see chair (disambiguation). ... A chief executive officer (CEO), or chief executive, is the highest-ranking corporate officer or executive officer of a corporation, or agency. ... Goldman Sachs offices at the Fraumünsterplatz in Zürich (the light-colored building on the left) The Goldman Sachs Group, Inc. ... To meet Wikipedias quality standards, this article or section may require cleanup. ...


He was nominated by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary on May 30, 2006.[1] On June 28, 2006, he was confirmed by the United States Senate to serve in the position.[2] Secretary Paulson was officially sworn in at a ceremony held at the Treasury Department on the morning of July 10, 2006. The presidential seal was used by President Hayes in 1880 and last modified in 1959 by adding the 50th star for Hawaii. ... George Walker Bush (born July 6, 1946) is the 43rd and current President of the United States, inaugurated on January 20, 2001. ... John W. Snow John William Snow, Ph. ... May 30 is the 150th day of the year in the Gregorian calendar (151st in leap years). ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... June 28 is the 179th day of the year (180th in leap years) in the Gregorian Calendar, with 186 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Seal of the U.S. Senate The United States Senate is one of the two chambers of the bicameral United States Congress, the other being the House of Representatives. ... July 10 is the 191st day (192nd in leap years) of the year in the Gregorian Calendar, with 174 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Contents

Early life and family

A devout Christian Scientist, Paulson was born in Palm Beach, Florida and was raised on a country estate in Barrington Hills, Illinois. Paulson attained the rank of Eagle Scout in the Boy Scouts of America.[3] Paulson received his Bachelor of Arts in English literature from Dartmouth College in 1968;[4] at Dartmouth he was a member of Phi Beta Kappa and was an All Ivy, an All East, and an honorable mention All American for football.[5] He was also a member of Sigma Alpha Epsilon fraternity, played intramural sports and lacrosse, was a member of the Dartmouth College Green Key Society and president of the Christian Science Organization. He met his wife Wendy during his senior year. It has been suggested that Christian Science practitioner be merged into this article or section. ... Palm Beachs skyline, as seen from Flagler Drive in West Palm Beach. ... This article or section does not cite its references or sources. ... Incorporated Village in 1957. ... Official language(s) English Capital Springfield Largest city Chicago Area  Ranked 25th  - Total 57,918 sq mi (149,998 km²)  - Width 210 miles (340 km)  - Length 390 miles (629 km)  - % water 4. ... An Eagle Scout is a Scout with the highest rank attainable in the Boy Scouts of America (BSA). ... The Boy Scouts of America (BSA) is a United States Scouting organization, with some presence in other countries. ... Bachelor of Arts (B.A., BA or A.B.), from the Latin Artium Baccalaureus is an undergraduate bachelors degree awarded for either a course or a program in the liberal arts or the sciences, or both. ... Dartmouth College is a private academic institution in Hanover, New Hampshire, in the United States. ... The Phi Beta Kappa Society is an honor society which considers its mission to be fostering and recognizing excellence in undergraduate liberal arts and sciences. ... The term All-American has two uses: It can be used as a reference to an athlete selected as a member of an All_America team, as in Eddie George was named an All-American football player by both wire services in 1995. ... Sigma Alpha Epsilon (ΣΑΕ) is a college fraternity. ... In the United States and Canada intramural sports (informally, Intramurals, and more commonly Intramural recreation) refers to games and recreational activities organized within the walls of a school that build upon the skills learned in physical education classes. ... For other uses, see Lacrosse (disambiguation). ... Dartmouth College is a private academic institution in Hanover, New Hampshire, in the United States. ...


In 1970 Paulson received a Master of Business Administration degree from Harvard Business School. The couple have two adult children, Henry Merritt III and Amanda Clark. They maintain homes in Washington, DC and Barrington, Illinois. Master of Business Administration (MBA) is a masters degree in business administration, which attracts people from a wide range of academic disciplines. ... Harvard Business School, officially named the Harvard University Graduate School of Business Administration: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. ... Aerial photo (looking NW) of the Washington Monument and the White House in Washington, DC. Washington, D.C., officially the District of Columbia (also known as D.C.; Washington; the Nations Capital; the District; and, historically, the Federal City) is the capital city and administrative district of the United... To meet Wikipedias quality standards, this article or section may require cleanup. ...


Career highlights

Paulson was Staff Assistant to the Assistant Secretary of Defense at The Pentagon from 1970 to 1972.[5] He then worked for the administration of U.S. President Richard Nixon, serving as assistant to John Ehrlichman from 1972 to 1973. Assistant Secretary of Defense is a title used for many executive positions in the United States Department of Defense. ... The Pentagon is the headquarters of the United States Department of Defense, located at 48 N. Rotary Road, Arlington, Virginia 22211 (Map). ... The presidential seal was used by President Hayes in 1880 and last modified in 1959 by adding the 50th star for Hawaii. ... Richard Milhous Nixon (January 9, 1913 – April 22, 1994) was the 37th President of the United States, serving from 1969 to 1974. ... John D. Ehrlichman as Assistant to the President for Domestic Affairs, May 13, 1969. ...


He joined Goldman Sachs in 1974, working in the firm's Chicago office. He became a partner in 1982. From 1983 until 1988, Paulson led the Investment Banking group for the Midwest Region, and became Managing partner of the Chicago Office in 1988. From 1990 to November 1994, he was co-head of Investment Banking, then, Chief Operating Officer from December 1994 to June 1998;[6] eventually succeeding Jon Corzine (now Governor of New Jersey) as its chief executive. His compensation package, according to reports, was US$37 million in 2005, and US$16.4 million projected for 2006.[7] His net worth has been estimated at over $700 million.[7] Jon Stevens Corzine (born January 1, 1947) is the current Democratic Governor of the state of New Jersey. ... The Governor of New Jersey is the chief executive of the U.S. state of New Jersey. ...


Civic activities

Mr. Paulson is featured at [1] Mr. Paulson was Chairman and Chief Executive Officer of Goldman Sachs when they knowingly took the Mutual Life Insurance Company of New York ( MONY )public with fraudulent financial statements. He is a minion to corruption......


nature lover.[8] He has been a member of the Nature Conservancy for decades and is the organization's Board chairman and co-chair of its Asia-Pacific Council.[5] In that capacity, Paulson worked with former President of the People's Republic of China Jiang Zemin to preserve the Tiger Leaping Gorge in Yunnan province. He donated US$100 million worth of his Goldman Sachs stock to a family foundation dedicated to conservation and environmental education.[9] The Nature Conservancy is an environmental organization, founded in 1951. ... The President of the Peoples Republic of China (Simplified Chinese: 中华人民共和国主席; Pinyin: Zhōnghuá Rénmín Gònghéguó ZhÇ”xí, or abbreviated Guójiā ZhÇ”xí 国家主席) is the head of state of the Peoples Republic of China. ... Jiāng Zémín (Traditional Chinese: 江澤民, Simplified Chinese: 江泽民, Hanyu Pinyin: Jiāng Zémín, Wade-Giles: Chiang Tse-min, Cantonese (Jyutping): gong1 zaak6 man4) (born August 17, 1926) was the core of the third generation of Communist Party of China leaders, serving as General Secretary of the Communist... Terraces part way up the sides of the Tiger Leaping Gorge View of the gorge from the high path, showing Jade Dragon Snow Mountain on the left, and Haba Snow Mountain on the right. ...   (Simplified Chinese: ; Traditional Chinese: ; pinyin: ; literally south of the clouds) is a province of the Peoples Republic of China, located in the far southwestern corner of the country. ...


Paulson is also on the Board of Directors of the Peregrine Fund; was the founding Chairman of the Advisory Board of the School of Economics and Management of Tsinghua University in Beijing; and, previously served as chairman of the influential trade group, the Financial Services Forum. Tsinghua University, (Simplified Chinese: , Traditional Chinese: ; pinyin: Qinghuá Dàxué) is a university in Beijing, China. ... Beijing [English Pronunciation] (Chinese: 北京 [Chinese Pronunciation]; Pinyin: Běijīng; IPA: ), a metropolis in northern China, is the capital of the Peoples Republic of China (PRC). ... The Financial Services Forum is a non-partisan financial and economic policy organization comprised of the CEOs of twenty of the largest and most diversified financial services institutions doing business in the United States. ...


Notable among the members of President Bush's cabinet, Paulson is a strong believer in the effect of human activity on global warming and advocates immediate action to decrease this effect. [10] Global mean surface temperatures 1856 to 2005 Mean surface temperature anomalies during the period 1995 to 2004 with respect to the average temperatures from 1940 to 1980 Global warming is the observed increase in the average temperature of the Earths atmosphere and oceans in recent decades. ...


Treasury Secretary nomination

Paulson (right) with President George W. Bush as his nomination to become Treasury Secretary is announced.
Paulson (right) with President George W. Bush as his nomination to become Treasury Secretary is announced.

On May 30, 2006, Treasury Secretary John W. Snow resigned. President Bush immediately nominated Paulson to head the Treasury department. On June 28, 2006, the United States Senate confirmed Paulson to serve in this position. Image File history File linksMetadata President_Bush_Nominates_Henry_Paulson_as_Treasury_Secretary_2. ... Image File history File linksMetadata President_Bush_Nominates_Henry_Paulson_as_Treasury_Secretary_2. ... May 30 is the 150th day of the year in the Gregorian calendar (151st in leap years). ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... John W. Snow John William Snow, Ph. ... June 28 is the 179th day of the year (180th in leap years) in the Gregorian Calendar, with 186 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... Seal of the U.S. Senate The United States Senate is one of the two chambers of the bicameral United States Congress, the other being the House of Representatives. ...


Paulson's three immediate predecessors as CEO of Goldman Sachs — Jon Corzine, Stephen Friedman, and Robert Rubin — each left the company to serve in government: Corzine as a U.S. Senator (later Governor of New Jersey), Friedman as chairman of the National Economic Council (later chairman of the President's Foreign Intelligence Advisory Board), and Rubin as both chairman of the NEC and later Treasury Secretary under President Bill Clinton.[11] Jon Stevens Corzine (born January 1, 1947) is the current Democratic Governor of the state of New Jersey. ... Stephen Friedman is the current Chairman of the United States Presidents Foreign Intelligence Advisory Board. ... Robert Edward Rubin (b. ... The National Economic Council (NEC) is a United States government agency. ... The Presidents Foreign Intelligence Advisory Board (PFIAB) is part of the Executive Office of the President of the United States. ... William Jefferson Bill Clinton (born William Jefferson Blythe III on August 19, 1946) was the 42nd President of the United States, serving from 1993 to 2001. ...


Acts as Treasury Secretary

Paulson has quickly distinguished himself from his two Bush administration predecessors by listing the wide gap between the richest and poorest Americans as an issue on his list of the country's four major long-term economic issues to be addressed. Notably, he highlighted this issue in one of his first public appearances as Secretary of Treasury,[12] helping to trigger the Inequality Debate of 2006. It has been suggested that this article or section be merged into Economic inequality. ...


Paulson's former Goldman Sachs co-worker, Bob Steel, has been nominated as Undersecretary of the Treasury for Domestic Finance.


References

  1. ^ White House (2006). President Bush Nominates Henry Paulson as Treasury Secretary. Retrieved June 29, 2006.
  2. ^ Associated Press (2006). Senate Approves Paulson as Treasury Secretary.
  3. ^ Townley, Alvin [2006-12-26]. Legacy of Honor: The Values and Influence of America's Eagle Scouts. St. Martin's Press. ISBN 0-312-36653-1. Retrieved on 2006-12-29.
  4. ^ Belser, Alex. "Paulson '68 to lead Treasury", The Dartmouth, 31 May 2006.
  5. ^ a b c The Nature Conservancy (2006). Henry M. Paulson, Jr..
  6. ^ Goldman Sachs (2006). Goldman Sachs Group, Inc - Management.
  7. ^ a b Forbes (2006). Henry M. Paulson, Jr..
  8. ^ Somerville, Glenn. "Paulson brings Wall Street luster to Treasury", Yahoo! News, 30 May 2006.
  9. ^ Rutenberg and Andrews, Jim and Edmund L.. "Bush Selects Goldman Chief to Take Over Treasury Dept.", New York Times, 30 May 2006.
  10. ^ Heilprin, John. "A global warming believer in Bush Cabinet", Associated Press, 02 Jun 2006.
  11. ^ White House (2006). President Commends Senate for Confirming Henry Paulson as Treasury Secretary. Retrieved June 29, 2006.
  12. ^ The Christian Science Monitor August 3, 2006 New Treasury head eyes rising inequality. Retrieved August 3, 2006.

2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... December 26 is the 360th day of the year in the Gregorian Calendar, 361st in leap years. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... December 29 is the 363rd day of the year (364th in leap years) in the Gregorian Calendar, with 2 days remaining. ... May 31 is the 151st day of the year in the Gregorian calendar (152nd in leap years), with 214 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... May 30 is the 150th day of the year in the Gregorian calendar (151st in leap years). ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... May 30 is the 150th day of the year in the Gregorian calendar (151st in leap years). ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... June 29 is the 180th day of the year (181st in leap years) in the Gregorian Calendar, with 185 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... The Christian Science Monitor (CSM) is an international newspaper published daily, Monday through Friday. ... August 3 is the 215th day of the year in the Gregorian Calendar (216th in leap years), with 150 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... August 3 is the 215th day of the year in the Gregorian Calendar (216th in leap years), with 150 days remaining. ... 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Further reading

External links

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Preceded by
Jon Corzine
Chairman and CEO, Goldman Sachs
June, 1998July 3, 2006
Succeeded by
Lloyd Blankfein
Preceded by
John W. Snow
United States Secretary of the Treasury
Under President George W. Bush

July 31, 2006 – present
Succeeded by
Incumbent
Preceded by
Condoleezza Rice
United States Presidential Line of Succession
5th in line
Succeeded by
Robert Gates
Preceded by
Sandra Day O'Connor
United States order of precedence
as of 2006
Succeeded by
Robert Gates
G8 Finance Ministers
Jim Flaherty Canada | Thierry Breton France | Peer Steinbrück Germany | Tommaso Padoa-Schioppa Italy | Koji Omi | Alexei Kudrin | Gordon Brown United Kingdom | Henry Paulson United States


 

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