Word: paulsons
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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...
...this activity came amid several days of Democratic pressure on the White House to do or say something that would force enough Republican House members to support the unpopular Bush bailout plan proposed by Treasury Secretary Henry Paulson over the weekend - pressure that led to President Bush's 15-min. prime-time address last night. Democrats have been unwilling to whip members of their own caucus to support the plan without a full White House push of GOP members. Bush, therefore, turned up the heat. "Our country could experience a long and painful recession," he warned. "Fellow citizens, we must...