Henry Paulson

Henry Paulson
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Name	Henry Paulson
Caption	74th United States Secretary of the Treasury
Office	United States Secretary of the Treasury
President	George W. Bush
Term start	July 10, 2006
Term end	January 20, 2009
Predecessor	John W. Snow
Successor	Timothy Geithner
Office2	Chairman and CEO of Goldman Sachs
Term start2	1999
Term end2	2006
Predecessor2	Jon Corzine
Successor2	Lloyd Blankfein
Birth date	28 March 1946
Birth place	Palm Beach, Florida, U.S.
Party	Republican
Spouse	Wendy Judge (m. 1970)
Education	Dartmouth College (BA), Harvard University (MBA)

Henry Paulson served as the 74th United States Secretary of the Treasury under President George W. Bush during the Financial crisis of 2007–2008. Previously, he was the Chairman and Chief Executive Officer of the global investment bank Goldman Sachs. His tenure at the United States Department of the Treasury was defined by the government's aggressive response to the financial collapse, including the creation of the Troubled Asset Relief Program (TARP).

Early life and education

Henry Merritt Paulson Jr. was born in Palm Beach, Florida, and raised in Barrington, Illinois. His father was a wholesale jeweler in Chicago. Paulson attended Barrington High School before enrolling at Dartmouth College, where he majored in English literature and was a member of the Phi Beta Kappa honor society and the Beta Theta Pi fraternity. He graduated in 1968 and subsequently earned a Master of Business Administration from Harvard Business School in 1970. During his time at Harvard University, he met his future wife, Wendy Judge.

Career at Goldman Sachs

Paulson began his career in the public sector, serving as a staff assistant to the Assistant Secretary of Defense at the Pentagon and later on the Domestic Council under President Richard Nixon. In 1974, he joined the investment banking firm Goldman Sachs as an associate in its Chicago office. He rose rapidly through the ranks, becoming a partner in 1982. Paulson held several key leadership positions, including co-head of Investment Banking and head of the firm's operations in the Midwestern United States. He was named President and Chief Operating Officer in 1994, and in 1999, following the firm's initial public offering, he succeeded Jon Corzine as Chairman and Chief Executive Officer. Under his leadership, Goldman Sachs solidified its position as a preeminent global financial institution, expanding significantly in markets like China and Europe.

U.S. Secretary of the Treasury

Nominated by President George W. Bush, Paulson was confirmed by the United States Senate and sworn in as Secretary of the Treasury in July 2006. His initial focus included initiatives on U.S.-China economic relations and domestic issues like Fannie Mae and Freddie Mac reform. The eruption of the Subprime mortgage crisis in 2007 and the full-blown Financial crisis of 2007–2008 in 2008 dominated his tenure. He played a central role in the government's crisis response, engineering the rescue of Bear Stearns, facilitating the takeover of Merrill Lynch by Bank of America, and overseeing the federal conservatorship of Fannie Mae and Freddie Mac. His most consequential action was crafting and advocating for the Emergency Economic Stabilization Act of 2008, which created the $700 billion Troubled Asset Relief Program (TARP) to stabilize the banking system. He worked closely with Federal Reserve Chairman Ben Bernanke and New York Federal Reserve President Timothy Geithner.

Post-government career and philanthropy

After leaving the United States Department of the Treasury in 2009, Paulson founded the Paulson Institute, a think tank at the University of Chicago focused on sustainable economic growth and U.S.-China relations. He has authored books on the financial crisis and economic policy, including *On the Brink*. A committed conservationist, he chairs the Paulson Institute's conservation program and has served as Chairman of the Nature Conservancy board. He remains active in economic policy debates, frequently testifying before Congress and participating in forums like the Group of Thirty.

Personal life

Paulson married Wendy Judge in 1970. They have two adult children and divide their time between Washington, D.C., Illinois, and Maine. An avid birdwatcher and outdoorsman, he has been deeply involved in environmental conservation efforts for decades. He and his wife have supported numerous conservation projects, including significant work with the Nature Conservancy and the Cornell Lab of Ornithology. Paulson is a member of the Republican Party and a practicing Christian Scientist.

Category:1946 births Category:United States Secretaries of the Treasury Category:Goldman Sachs people Category:Harvard Business School alumni Category:Living people