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Paulson Feared Run On The Dollar

Posted By admin On February 1, 2010 @ 5:13 am In Money Watch | Comments Disabled

Krishna Guha
Financial Times [1]
Monday, February 1st, 2010

Hank Paulson feared there would be a run on the dollar during the early phase of the financial crisis when global concerns were focused on the US, the former Treasury secretary has told the Financial Times.

“It was a real concern,” Mr Paulson said in an interview ahead of the release on Monday of his memoir On the Brink. A dollar collapse “would have been catastrophic,” he said. “Everything that could go bad did not go bad. We never had the big dislocation of the dollar.”

When the crisis escalated and went global with the failure of Lehman Brothers in September 2008, the dollar rallied – but Mr Paulson had to grapple with a firestorm of financial failures.

He feared Goldman Sachs and Morgan Stanley would go down along with Washington Mutual and Wachovia.

Full article here [2]

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Paulson Feared Run On The Dollar  FOTR 340x1692 [3] 

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URLs in this post:

[1] Financial Times: http://www.nytimes.com/2010/02/01/science/01yellowstone.html

[2] Full article here: http://www.ft.com/cms/s/0/772748d6-0e94-11df-bd79-00144feabdc0.html

[3] Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html

[4] Financial Crisis Commission Threatens To Audit Goldman Sachs: http://www.prisonplanet.com/financial-crisis-commission-threatens-to-audit-goldman-sachs.html

[5] Stearns Crucifies Paulson On Bailout Bait And Switch: http://www.prisonplanet.com/stearns-crucifies-paulson-on-bailout-bait-and-switch.html

[6] Conflict Of Interest? Report Says Goldman Sachs ‘Among Biggest Beneficiaries’ Of Paulson’s Bailout: http://www.prisonplanet.com/conflict-of-interest-report-says-goldman-sachs-%e2%80%98among-biggest-beneficiaries%e2%80%99-of-paulson%e2%80%99s-bailout.html

[7] Dollar Advances as Paulson Stresses Support for U.S. Currency: http://www.prisonplanet.com/dollar-advances-as-paulson-stresses-support-for-us-currency.html

[8] Goldman Sachs executives sell $700 million in stock: report: http://www.prisonplanet.com/goldman-sachs-executives-sell-700-million-in-stock-report.html

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