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...China connection allows him to keep his costs low and, more importantly, to manufacture on demand, which cuts his risk considerably. There's no other way a startup could compete - even one that just pulled in $24 million in venture capital funding and gave former U.S. Treasury Secretary Hank Paulson an advisory seat on its board. "It allows us to manufacture flexibly without putting huge amounts of capital into metal-bashing facilities," says Czinger, who has years of experience working with Chinese companies. "It makes a big, big difference for our value chain...

Author: /time Magazine | Title: Electric Cars: China's Power Play | 8/31/2009 | See Source »

Friends in High Places Not least of those explanations has to do with Blankfein's appearance in the call logs of Henry Paulson, his predecessor as Goldman CEO, who was Treasury Secretary while the financial crisis started to unfold in early 2007 up until January 2009. For instance, in the week after Paulson allowed Lehman Brothers to collapse into bankruptcy last Sept. 15 - and while the Secretary was playing a major role in deciding whether to pump $85 billion into the rescue of insurance behemoth AIG - Paulson and Blankfein spoke 24 times. On one level it makes sense: a Treasury...

Author: /time Magazine | Title: The Rage Over Goldman Sachs | 8/31/2009 | See Source »

...subprime woes of its southern neighbor, created a consumer financial agency in 2001. Australia and the Netherlands have taken the more ambitious step of consolidating all consumer and market oversight under one financial regulator while leaving soundness to another. Last year when he was still Treasury Secretary, Hank Paulson endorsed this approach in his blueprint for regulatory reform. (Watch TIME's video of Peter Schiff trash-talking the markets...

Author: /time Magazine | Title: Financial Aid | 7/27/2009 | See Source »

...signs were brutal: “Somewhere in Kenya, a village is missing their idiot.” But most people were more measured—or at least less partisan. For instance, Joe Markley, a former State Senator who spoke, dubbed former Secretary of the Treasury Henry Paulson “a Klingon...

Author: By Brian J. Bolduc | Title: The Hartford Tea Party | 7/8/2009 | See Source »

Warren's concern for the middle class is the prism through which she sees every economic indicator. It is also the driving force behind her work with the oversight panel. The first two reports it issued, in December and January, criticized Paulson's department for its lack of transparency and argued that its policies were doing little to help reduce home foreclosures or alleviate stress on families. Even if accurate, those early pronouncements did not help to pave the way to a functional working relationship between Warren and the people she was supposed to oversee. Former Treasury officials seem...

Author: /time Magazine | Title: Elizabeth Warren: Riding Herd on the Bailout | 6/22/2009 | See Source »

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