Word: paulson
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Dates: during 2000-2009
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Forst is helping Secretary of the Treasury Henry M. Paulson, his erstwhile Goldman colleague, draft the controversial $700-billion bailout plan that is currently being considered by Congress, Faust said...
Before coming to Harvard, Forst served as the global head of Goldman's investment management division, joining the bank's elite management company in 2004. He became a Goldman partner in 1998, Paulson's first year leading the firm...
...Paulson left Goldman in 2006 to become President Bush's treasury secretary...
...Paulson's embattled bailout plan—intended to bolster confidence in faltering U.S. financial institutions—would allow the federal government to purchase up to $700 billion of difficult-to-sell securities in an effort to cleanse the country's ailing financial system...
While the initial response to Paulson's plan was favorable, and key lawmakers had signaled their support, it has taken flack from academic economists and the media in recent days. And despite support from Democrats in Congress, who have reached an agreement with Paulson about the general framework of the bailout, House Republicans have attacked the plan, saying that the legislation unfairly exposes taxpayers to billions of dollars of losses...